Fintec Global Bhd (Rm 0.075)

As a follow up to my previous article on Fintec dated 19 October, 2019, when Fintec was hovering around 4.5 sens, I said that Fintec was about to complete its sub-wave v of its wave (iii) of C of its mega wave (2) without realising that it has already completed its sub-wave v of (iii) on 3 October with an intraday low of 4.0 sens.

Fintec gained 0.5 sen (+9%) yesterday with a high volume of 15.5 million shares. At the close of today's trading Fintec gained another 1.5 sens (+25%) with an even higher volume of 25.5 million shares.

Currently Fintec is forming the sub-wave i of its wave (iv). Technically Wave (iv) is likely to end around 11 sens before the starting of its final drop, the wave (v) to complete the wave C of (2).

I also mentioned in my October 19 article that this is a greatly undervalued stock that was selling at 4.5 sens (at that time) but it has a net cash per share of 3.7 sens and with its investment holding that is worth 34 sens a share. I also mentioned that its main problem was its operating profit that has been in the red for a long time. Its last quarterly earning (ending 30/6/2019) of 4 sens a share was contributed by the increase in market value of its investment holdings.

For the coming quarterly earning for quarter ending 30/9/2019 that Fintec has to announce by 29/11/2019, the market value of its investment holding has increased by another 75 million during the quarter, that is about 12 sens per share. Is Fintec going to announce its next quarterly earning at 12 sens per share and with a corresponding increase in its net assets to 39 sens a share? Just wait for another two weeks for the answer.

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