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Potential Buy Entry Alert to Watch MYQ
Time Frame : Daily
Sector : Software and Services/ Technology
Key Stats : $28.82 Million Market Cap, VWAP 0.365, ASX Ranking 1301, 4 Week Av Turnover $150,748, Current Turnover (Intraday as at time of alert) $138,784.
Company Overview : MyFiziq Limited (MYQ) is a software company which has developed a software application MyFiziq Technology and App for Smart Phones. The app converts photos of the human body into 3D image known as a Personal Avatar. The principal activity of MYQ is development and marketing of new application technology.
Broker Consensus : Not covered by a major broker
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MYQ – MyFiziq Limited
MYQ has been under the microscope for a while regarding debt but recently announced a $6M Capital Raising at $0.60 from Asia Cornerstone Asset Management licensed in Hong Kong. The Fund focuses on investments deemed to have high growth potential and strong management which is a nice vote of confidence for the company. The funds will keep development on track for the next two years as the company starts to focus on income. We see the potential for this stock to come on other buyers radar for a move up to the cap raising price at 0.60. Still some work to do but on the watchlist for now to see if price can hold a higher low and build a buy entry setup.
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Stock Code : MYQ – MyFiziq Limited
Company Website : www.myfiziq.com
Current Price : 0.375
Status : On watch for potential higher low and move through 0.60
