Morning trading May 17

Originally posted by Rexy789 ↑

FFG this can and will get bigger and better , things are happening

17 May 2021
ASX Announcement
Fatfish Completes Acquisition of Payment Gateway Provider
with A$380million Annual Transactions
Reference is made to the ASX announcement by Fatfish Group Ltd (“FFG” or the
“Company” on 26 April 2021 regarding FFG’s 55% acquisition of Southeast Asian-based
Pay Direct Technology Sdn Bhd (“Pay Direct”, which operates QlicknPay, a payment
gateway technology solution that allows financial institutions to rapidly onbard
merchants to accept online payments.
FFG is pleased to announce that the acquisition has been completed.
FFG’s Group CEO, Kin W. Lau commented “We are pleased to have been able to move
quickly to complete the acquisition of Pay Direct. This strategic acquisition will
complement FFG’s goal to accelerate its Buy Now Pay Later and other digital financing
services in Southeast Asia”.
Clients of Pay Direct include OCBC Bank (second largest bank in Southeast Asia) & Public
Bank - one of Malaysia’s most profitable banks (sixth largest in Southeast Asia).
Businesses that process payments online using Pay Direct’s payment gateway include:
Wise (formerly TransferWise), TeaLive (Southeast Asia's largest lifestyle tea brand) and
more than 500 other merchants.
Pay Direct currently processes monthly

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After spending the bulk of 2020 bubbling away in relative anonymity, Fatfish (ASX:FFG) foreshadowed some speculative interest in October, and then really got going on the 11th of February 2021.

That move resulted in four significant up days, massive gaps on the chart on days 3 and 4, and ultimately a simply enormous reversal candle on day 5 on the 16th of Feb, when the price hit an intra-day high of 43c.

https://unauthorised investment advice/wp-content/uploads/2021/03/fatfish-chart.jpg

As the name implies, reversal candles frequently imply lower levels to come, and the same was true in this instance, as the bulk of subsequent price action to date has been to lower levels, seeing the stock hit supports in the order of 10c a couple of times in recent sessions.

Fatfish has popped up on some scans today for the fact that it is threatening to leave some of those recent lows behind, finishing the day at 13c, which is good for +13.43% on the day.

If you’re wondering why there is no explicit reference to the nature of the business run by Fatfish Group contained in today’s note, that’s no accident.

Suffice to say that they’re a colourful outfit involved in some very topical endeavours which may or many not be of particular interest to the more speculative corners of the market.

We’re not there at the moment, but that doesn’t mean that it’s not a wonderful trading stock.

When any equity shows the capacity to put up moves like the one observed in the month of February, consolidations like the one that has followed should be monitored for the possibility that it can all happen again.