Why would Pecca skyrocket??
While market has soften for the past few weeks, it seems that a rebound is imminent and this rebound seems to be lead by none other than gloves/mask related counter.
As of the moment of writing this article, PRLEXUS closed up RM1.62 and the warrant closed at 0.81. This is mainly fueled by its antivirus facemask. Given this, many would then start to look at all the gloves/ppe related counter to see if there is any other counters that is cheaper to buy in (as gloves counters has spike up so much and more funds are needed should you want to invest in the BIG 4). With the recent spike in COVID cases, it would seems that Malaysia might undergo another lockdown if the cases were to spike further to other states. This might further fuel gloves/ppe related counters to reach a newer high (However, I sincerely hope that we can flatten the curve and we can all stay at home and jangan ke sana ke sini.)
That being said, as i was scrolling through i3investor today, i have saw a comment by Kang Yao in the Pecca forum. He mentioned that Pecca has gotten FDA Clearance. For those of you that would like to probe further, please find the reference link below. With the addition of Pecca's face mask into FDA clearance list, the news would be announce soon enough. Couple this news with their expansion plan to manufacture more mask, I believe that the share price of Pecca will have another breakout (I have already recommended this stock when the price was 1.22 although it has been in my watchlist when it was 0.90. You may find the reference link as per below:
In terms of technical analysis, with the price at 1.44 at the moment of writing this article, the price has already breakout the bollinger band. It is above the 7,14,100 days moving average as well. All of the indicators seems to point towards a new high for Pecca soon.
With the buying pressure accumulating over the past few weeks, it seems that some parties has already been collecting it and waiting for the price to breakout. I would definitely add this into my portfolio.
FDA Clearance Reference Link (Credit to Kang Yao & Australianpharmacist):
2) Type in 3010133590 in Registration/FEI Number
3) You should obtain the following result :
*I'm just a newbie in this field and this is just my thoughts. My views are not a buy/sell call. This is just my 2 cents on this counter.