GREATEC

Sector: Semiconductor/ Automation

Analyzed on 19/09/2021

We first covered GREATEC in July, when it was trading at RM5.88. We were optimistic on the company as it continues to deliver growing revenue coupled with bright prospects where one of its client, First Solar has announced expansion plan which may benefit GREATEC. True enough, GREATEC has not only broken its previous resistance level at RM6.39 but continue to climb substantially in these two months and now, holding strongly above its EMA25 (blue line). We have identified RM6.8 as its immediate support level.

The company is now trading at a valuation of 63x earnings, mainly due to it capable of delivering consistent profit and high profit margin.

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

Reason to monitor: Supported at EMA25

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NOTT INVEST 

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