MI

Sector: Technology/ Equipment Provider

Analyzed on 22/8/2021

MI is involved in the manufacturing and sales of semiconductor manufacturing equipment paired with smart factory automation solutions, provision of maintenance services and technical support. In April 2021, MI had acquired Taiwan-based Accurus Scientific to expand into Semiconductor Material Business (soldering ball) and saw its maiden contribution to its quarterly earnings recently.

Looking at its technical analysis, MI has now retraced to EMA25 level after a strong gap up following its Q2/2021 earnings. RSI has also dropped to an average level of 49. The retracement is in line with generally lesser transactions in the market amid the political instability for the past two weeks. With PM-9 emerged and sworn in yesterday, hopefully the political climate can stabilize and trading volume can pick up again. We view that this could be a good chance to build position in MI given their promising business expansion outlook.

Refer to our earlier post on summary of MI’s Q2/2021 earnings.

Reason to monitor: Retracement to support level

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NOTT INVEST 

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