Amfil Technologies Inc (OTCMKTS: FUNN) is making interesting patterns on technical charts. Its average volume is rising rapidly and its trading technical indicators are also rising, indicating that buyers have started accumulating this stock.
The stock’s Average trading volume has reached 577.16K and the stock is trading near its 52 week high.
Amfil Technologies trades on the otc market exchange. It is a publicly-traded company and its symbol is FUNN. In the year 2013, its management underwent a transformation and the company also changed its business approach. It now mainly focuses on acquiring private companies that contribute to income-generating.
This buying pattern has developed on technical charts after Amfil Technologies Inc released its audit updates and declared plans for moving forward. The company said in a statement that it decided to declare the completion date for the company’s audit, and it will be completed soon. The company said, although suggestions were given that it should not release unaudited numbers, however, it decided to take the path of financial transparency and no matter what the audit status maybe, it will publish its financial statements by the due date. By doing so, the company will avoid the “Stop Sign” given on OTC markets.
The company also said that it stands for the timely completion of all further audits, and plants to move forward with many growth-related initiatives. The stock markets gave thumbs up to the company’s future expansion plans of opening new venues, and additional initiatives that have been in the developmental stage.
Markets, investors, and traders have liked this new development in Amfil Technologies, which is apparent from its performance in the recent few days. The stock has been down -12.31% yearly, for the last 3 months period it is showing a loss of -0.54. However, on a YTD basis, it is showing a gain of 3.06%. For the last one month, the stock has made a huge leap of 42.50%! And in the last 5 days, it has given a return of 14.00% to investors and traders.
That is a very impressive performance. Since these are performance-based gains; traders and investors can expect more growth in the stock in the near future. High volumes coupled with a jump in the price, show that investors are lapping up this is stock.
Taking a look at the company’s valuations; its P/E is 149.80, while its P/E Ratio (with extraordinary items) is 199.40. The company’s P/E Ratio (without extraordinary items) stands at 168.00. Looking at the profitability numbers of this company; the Gross Margin is 55. 48, the company’s Operating Margin is 5.48, it has shown its Pre-tax Margin at 4.30 and Net Margin at 3.75. As the company has reiterated its commitment to further growth plans, and the technical charts are also indicating buying support to its stock, this penny stock will be worth watching in 2020. A price change with high volume promises more gains in the future. It will be a good investment strategy to wait for a profit booking and cooling down in the stock prices, then buy it at a lower price.