(APPASIA - Stock Code 0119, Technology, ACE MARKET)
APPASIA & APPASIA-WA.... interest seen to be reignited in this counter.
APPASIA was traded to a high of 0.75 whilst APPASIA-WA reached a high of 0.550 today.
APPASIA 52-week range : 0.08 - 0.91
INTERESTINGLY, APPASIA-WA is currently trading at a DISCOUNT of 6.5 cts to the mother share.
I believe arbitraging will sets in to close the gap soon.
Exercise Price : ONLY 0.130
Expiry Date : 23 Dec 2024
With the positive momentum in a red market, i would put it in my RADAR for possible entry.
Recent Developments & news :
1) eCONFIRM LAUNCH
*AppAsia officially launched its eConfirm.my platform on 26 June 2020.
eConfirm.my is Malaysia’s first and only industry-wide electronic bank
confirmation platform in collaboration with Malaysian Association of
2) APPASIA PARTNERS WITH MIA
Related news :
AppAsia partners MIA to develop electronic bank confirmation platform | App Asia
3) PELABURAN MARA BHD ACQUIRING MORE STAKE
KUALA LUMPUR (Aug 7): AppAsia Bhd said Pelaburan MARA Bhd has emerged as a substantial shareholder of the company.
This was after the strategic investment and asset management arm of
Majlis Amanah Rakyat (MARA) acquired 4.4 million shares in AppAsia off
market today, the group said in a bourse filing
AppAsia Bhd - Game Changer e-Confirmation
We are positive on AppAsia Bhd’s (“APPASIA”) foray into being the sole service provider for electronic bank confirmation platform in collaboration with Malaysian Institute of Accountants (“MIA”). This is set to be game changer for them and expect to see significant contributions from FY21 onwards when it becomes the new normal for audit confirmation. BUY with a target price of RM0.68 premised on 25x PER FY21 as per Bursa Technology Index.
ABOUT APPASIA :
Considering all the above, I believe that APPASIA is attractive for MOMENTUM TRADING due to reasons below:
APPASIA PARTNERS WITH MIA
PELABURAN MARA BHD ACQUIRING MORE STAKE
LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THE NEXT TRADING DAY WITH EXPECTED OF BULLISH MOMENTUM.
Disclaimer: The above opinion is never intended to be a BUY CALL whatsoever. I am sharing my observations ONLY based on fundamental; past history; current trading pattern; charts etc. Please make your own informed decision before buying this share or whatever share for that matter.