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PAX Global Tech (Ticker: 327) is a HK-based producer of cashless payment hardware similar to Ingenico, while being significantly more undervalued than the latter. long term target for the stock is 10-15 HKD. Since the huge breakout in Aug the stock followed the exact same pattern 3 times already: - 2-4 days breakout on higher volume - backtesting of breakout...
The more countries start to use cards instead of cash, the more demand for POS terminals (where the cashier takes your credit cards and swipe into a terminal). This promotes safety and accounting efficiency for the merchants/retailers that operates the business. I expect once the Covid-19 pandemic is over and the retail, tourism and hospitality sectors are back...
HKEX:327 has reach the resistance(purple line). Now, retest the support line(blue line). Pay attention @3.57. Cut loss @3.57 Target @4.02 Buy in @3.67