15 JULY 2019
N2N 0108
PE : 43.03
SHARE ISSUED : 597.878 MILLIONS
SECTOR : TECHNOLGY
SUB SECTOR : SOFTWARE
SYARIAH : YES
NTA : 0.45
DIVIDEND YIELD : 1.20%
RECENT NEWS DEVELOPMENT :
23 May 2019
By Ambank Research
Rating: Buy
Fair Value: RM0.95
Ambank Research is maintaining its buy call on N2N Connect due to its leading position in the online trading solutions space and its earning accretion from the acquisition of its HK subsidiary, AFE Solutions Limited (AFE). However, Ambank is cutting N2N financial year 2019 to 2021 forecast by 13% to 18% on the back of subdued trading volume.
Moreover, N2N expects to launch a new digital platform in mid FY-19 base on blockchain technology allowing trading of multiple financial instruments in one venue including equities, derivatives and currencies.
Source obtain from https://www.thestar.com.my/business/business-news/2019/05/23/analyst-reports/#xkTYdkrfB8MZbR2S.99
21 May 2019
Target Price given by TA : RM1.02
Source obtain from https://klse.i3investor.com/servlets/ptres/50379.jsp
7 Mar 2019
N2N inked a partnership with its substantial shareholder as part of its plan to venture into the digital asset exchange business across the Asia Pacific region. The parties will jointly operate a company that will become a holding company of operators of digital asset exchange for clients in the Asia Pacific region.
Source obtain from https://www.theedgemarkets.com/article/n2n-connect-active-276-digital-asset-exchange-biz-plan
27 Dec 2018
Japanese Online broker SBI Japannext Co Ltd has bought a strategic investment stake of 11.65% in N2N allowing for collaboration in developing alternative trading systems (ATS) for the Asian region. N2N’s Asia trading hub spanning across countries such as Malaysia, Hong Kong, Macau, Vietnam, Indonesia, Philippines, Singapore and Thailand provides Japnnext an ideal platform to boost regional interest in Japan equities and bond through their proprietary trading system (PTS).
Source obtain from https://www.thestar.com.my/business/business-news/2018/12/27/sbi-japannext-buys-1165-stake-in-n2n-connect/
Technical Outlook
Chart Formation : Higher Low, Higher High, round bottom
Volume Pattern : 1x 4 formation
SH Trend : Bullish ( occur on 12 July 2019)
MACD : GOLDEN CROSS ( occur on 12 July 2019)
BOLLINGER BAND : POSITIVE TERRITORY
RSI: 64.94 ( BULLISH )
CLOSING PRICE : 0.835
SUPPORT : 0.775 ; 0.81
RESISTANCE : 0.88 ; 0.945 ; 0.985
Personal Opinion :
Leverage on the strong surge of the Eforce, N2N do show a positive movement on last Friday 12 July 2019. A glance doing a comparison, PE for N2N 43. PE for EFORCE 39. It seem that N2N is more expensive at the moment. However, if we look into N2N financial result, consecutive 4 quarter it is showing a improving of profit although revenue does not show much excitement.
So, there is still no news update on the digital asset exchange which they have announce earlier. We are seeing software related company such as cuscapi, myeg, eforce should remain as the stock under closely monitoring for price movement which I think potential to trend higher.
TRADE WITH WISDOM
21 July 2019
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