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...
