Time to accumulate
Technical Analysis (Neutral - positive bias)
ATA IMS remains in sideways/bearish bias after failed in an attempt to continue its bull run. Nevertheless, it is good time to accumulate as the current price is near to support level 1.23, 1.20.
The stochastic level near to oversold range indicates the current trend (sideways/bearish bias) might be over soon. Stochastic Crossover is required as a bullish signal to change trend.
Fundamental Analysis (Neutral)
ATA IMS is badly hit due to factory closure during the MCO based on result FPE 31 March 2020 and the impact shall remains for FPE 30 June 2020. Despite that, it is still able to record positive earnings. In my opinion, it can witstand the COVID-19 headwinds due to healthy balance sheet (strong cash pile).
ATA IMS remains in sideways/bearish bias after failed in an attempt to continue its bull run. Nevertheless, it is good time to accumulate as the current price is near to support level 1.23, 1.20.
The stochastic level near to oversold range indicates the current trend (sideways/bearish bias) might be over soon. Stochastic Crossover is required as a bullish signal to change trend.
Fundamental Analysis (Neutral)
ATA IMS is badly hit due to factory closure during the MCO based on result FPE 31 March 2020 and the impact shall remains for FPE 30 June 2020. Despite that, it is still able to record positive earnings. In my opinion, it can witstand the COVID-19 headwinds due to healthy balance sheet (strong cash pile).
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