Eatech : 5259

transformation to become a super stock

since late september eatech had rise more than 100% in share price. here are the main reasons why I see that this is just the beginning for eatech:-

- the management focus now is to get the pn17 status uplifted.

- based on the their announcement , d co had disposed 3 of its vessel with approximately rm60 million value to be generated. aside from the disposal assets of rm 60mil, d co also acquired a new vessel of RM 17 mil.

- can Eatech be declassified from PN17 ? on 27 oct, d co had announced that they have been awarded 2 contracts from petronas worth RM 53 mil. for 2 years. therefore it may reflect secured revenue of rm 7mil per quarter.

- major oil n gas companies in malaysia has revised their charter rates with an increase of almost 100% compared to last year which will greatly benefits companies like eatech.

- eatech is awaiting 1 more contract from petronas by end of november / early december 2022

- market talk has it that a new white knight will soon emerge as substanial shareholder in eatech. currently, eatech shares are being held tightly by jcorp And jcorp cost is nothing less than 70 cents. We expect, upon announcement that the new "white knight" has stepped in eatech, we might see a turnaround for d co.

- we expect, PRIOR to uplifment of PN17 status, we should see at least 50 sen and once d co has been declassified from PN 17, eateach share price should be easily see RM 0,80 - 1.00

As per technical analysis :

- Eatech is now trading at 0.105 , which is also its 52 weeks high. with overall technical indicators are just about to begin its bullish momentum such as :

-price now trading above Moving average 20 , 50 and 200

- bullish MACD

-RSI is on strong momentum

-support is at 0.08