Verimatrix Societe anonyme (VMX.PA) Contactless Payments to Win Big
Contactless Payments Skyrocket Because No One Wants to Handle Cash
Verimatrix Societe anonyme
Ticker: VMX.PA
Price: EUR 2.24
COVID-19 is predicted to have a profound effect on the payment cards market. Contactless is considered the more hygienic and safe approach of making proximity payments, and this is being strengthened by ecosystem players who are shifting marketing messages from contactless transactions used to increase convenience levels toward safety and health.
Globally, contactless adoption will increase between +6% to +8% in comparison to pre-COVID-19 expectations, with the issuance levels forecast to grow by 14% YoY, accounting for over 65% of all cards issued in 2020, according to Shayne Heffernan, CEO and Founder of HEFFX.
“Although the overarching trend toward contactless was well in place prior, COVID-19 can further increase the speed of contactless adoption, particularly among countries and economies where cash remains king, and usage not only being encouraged by payment ecosystem players and suppliers but also by governments and health organizations.
“The way people purchase things is quickly evolving and changing. COVID-19 has driven a significant shift in consumer spending habits spurred by economic uncertainly and a push toward the purchase of mainly essential items. There’s also a surge in e-commerce whereby consumers have become even more heavily dependent on online retail channels to avoid crowded places to limit social interactions,” Shayne Heffernan points out.
However, with a significant strain placed on e-commerce, physical brick and mortar retail still has a major role to play and is crucial in many instances. In most countries, retailers considered essential (e.g., supermarkets) remain open. They have put in place measures to help combat the spread of COVID-19 to shoppers and customers, including the enforcement of 2-meter distancing and placing protective screens at checkouts. They are also encouraging digital payments over cash and, wherever possible, completely contactless transactions.
Verimatrix Societe anonyme Business Summary
Of particular interest is the Verimatric mobile payment solution.
The Verimatrix Mobile Payment solution lets banks deploy their own secure “Pays.” This allows them to control customer interaction, define the payment experience and integrate their payment strategy with other products. Consisting of a Mobile Payment Server and Client, the solution enables seamless transactions and increased customer engagement.
Shayne Heffernan Trade Idea
“Our current price target of Verimatrix Societe anonyme will come in around EUR 3.35 which will give the stock a price increase of +49.55%.”
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 1.89.
The projected upper bound is: 2.40.
The projected lower bound is: 2.08.
The projected closing price is: 2.24.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 21 black candles for a net of 6 white candles.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 62.6583. This is not an overbought or oversold reading. The last signal was a sell 4 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.41. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 80. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 26 period(s) ago.
Rex Takasugi – TD Profile
VERIMATRIX closed unchanged at 2.220. Volume was 38% below average (neutral) and Bollinger Bands were 51% wider than normal.
Open High Low Close Volume 2.250 2.295 2.205 2.220 148,483
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 2.18 1.76 1.90 Volatility: 68 56 56 Volume: 423,305 266,689 185,489
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
VERIMATRIX is currently 16.5% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into VMX.PA (mildly bullish).
Our trend forecasting oscillators are currently bullish on VMX.PA and have had this outlook for the last 40 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
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