[email protected] Share Price Forecast: Is This Penny Stock a Buy?

The [email protected] share price has made a steady recovery in the past few days as investors buy the company’s dip. The SYME stock is trading at 0.0915p, which is about 91% below its all-time high. As a result, its total market cap has dropped to about 31 million pounds, making it a very tiny penny stock. The current price is a few points above its lowest level this year.

[email protected] Capital is a small company in the inventory monetization industry. It simply helps companies in the manufacturing and trading businesses to improve their working capital. By so doing, the company also helps to generate income for its investors. The process works in a simple way. First, there is a securitization scheme where people in the UK and other countries can join. They then form Special Purpose Vehicles that become commercial counterparties of its customers.

[email protected] model is relatively new, and it is too early to determine whether it will be successful. The most recent half-year results showed that the company had a revenue of over 271,000 pounds in revenue and over 1.899 million in loss. The management expects that the loss-making process will continue for a while. At the time, the CEO said:

“While our efforts have not necessarily been borne out in this set of numbers, we have built a strong pipeline of new business, some of which we expect to come into play by year-end. As a result, we are poised to seize the multitude of opportunities available to us, including the first monetization transactions on our platform.”

[email protected] share price forecast

The daily chart shows that the SYME share price has made some recovery in the past few days. As a result, the stock has moved slightly above the lower side of the descending channel shown in green. It is also between the 25-day and 50-day moving averages while oscillators like the RSI and MACD have tilted upwards. 

Therefore, while the overall outlook of the stock is bearish, there is a likelihood that bulls will retest the upper side of the descending channel at about $0.17. On the flip side, a drop below the support at $0.005 will invalidate the bullish view.

Supply@me share price