MPAY

Sector: Technology

MPAY share price started to move in uptrend since end of May 2021 after retraced from its peak on Feb 2021. Currently, MPAY is trading above EMA25 with immediate resistance at RM0.265 and immediate support at RM0.230. MPAY tested its resistance at RM0.265 for a couple of times but failed to stay above RM0.265 at closing. In view of MPAY’s bid for digital bank license, MPAY major shareholder Dr. Azizan Osman raised his stake in the MPAY and bought additional 45 million shares via private placement at RM0.280 per shares which is higher than its closing price on last Friday (RM0.250). With the announcement made on last Friday related to the aforementioned private placement completed at RM0.280, let see if MPAY can breakout from its immediate resistance at RM0.265 in the coming trading days. If you intend to buy MPAY, you may consider to buy when breakout to minimize your risk.

Reason to Monitor: Bid for Malaysia’s digital banking license

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