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...
PAX Global Technology Ltd. is an investment holding company, which engages in the development and sale of electronic payment terminal products and related services. Its products include Smart POS, mPOS, mobile, countertop, PINpad, multiplane, and NFC. The firm operates through the following geographical segments: China, Hong Kong, United States, and Italy. The company was founded in 2000 and is headquartered in Hong Kong.
HKEX
