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I agree the RNS should be clearer. The statement
" help support the forecast growth in the next financial year and beyond" left me wondering where is the rest of the growth coming from.
Appropriate follow on statement likely would have addressed my concern.
I hold and am hoping for good news here.
This contract billed at Significant is worth $1.5 over the term, but expected to be of far more value.
As the RNS goes on to say, "The solution will be first deployed in the US before being rolled out to as many as 28 further countries over the contract term. This contract will help support the forecast growth in the next financial year and beyond", I presume that the initial contract value mentioned is for roll out over the USA only and that the increases in value are as those other 28 countries come on line.
The RNS could be far clearer, so would appreciate others views.
This is not an attempt to pour cold water on this share, as I bought in 3 tranches, 2 in 2017 an 1 in 2018 and I have always been in profit.
See my post from last Monday - 1st Nov - from that article "When lower highs and lower lows form, as in a falling wedge, a security remains in a downtrend" and so think we will see lower prices .
As I said, I am not an expert so please DYOR.
Keep me posted on your analysis please.
I will also research further and share any insights.
Cheers
Thanks for your reply andmillsy. This drop is disappointing.
I am fairly sure that is a falling wedge on the chart. I am not an expert at this sort of thing and there are only four or five patterns that I recognise. A couple of years ago I spotted the double bottom in ECK and I made profit by trading that, but as that StockCharts article says, the falling wedge is one of the hardest to wokr out. Sometimes there is what appears to be breakout but it fails. I'll spend more time reading that article, as it gives advise on watching the volume so that we can tell when the real breakout occurs.
GLA.
Hope so Noel sorry can't add to the TA - results seemed ok but reaction sp down
Could this now make a breakout? See my post yesterday about the falling wedge. If so, then a good rise to come. SP yesterday - 51.5p.
Does anyone see a falling wedge in the chart?
Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:falling_wedge_reversal
The companies IP and its product are now even stronger as a secure payment system.
I first bought into Eckoh in 2017, increased holdings a few months later, and topped up in 2018.
This share has been very good to me, as I have always been in profit, except for a couple of brief slight dips over the first few months, a rarity in my portfolio, as all my holdings are in the AIM.
Still below most peoples radar, as can be seen by the very few volume of posts per month, even these post numbers being low after positive news releases.
Maybe the article had an effect!
After a long, quiet period, some chunky trades gone through today.
Big trades totalled 2.7 million shares with 16 at the 250k mark.
Recently invested, anybody any ideas what these large 100k and 50k transactions are?
Quite happy with the results, considering a very difficult year, re Covid.
My son works in IT and several of his companies biggest customers were given a 'payment break', as they were closed for several months.
It was either that or those companies would have stopped paying anyway, due to little or no income.
Whilst I accept that IT companies and secure payment companies have different customers, I consider that a drop in revenue/profits of 8% in such a difficult year is nearer good news that bad.
I feel that Eckoh Technologies will not just pull this back during 2001, but more than gain back the loss, and in the year 2002 gain even more traction.
Well up on opening, so more than levelling the up/down yesterday.
As you say, Lasvelas, something going on. Usually without news, this share just plods nicely along.
Its one of the few shares that I have, that has always been in profit since I first bought in 4 years ago.
This has closed at 73 mid , ignore the last few trades. Something is going on...
At one time the sp was 8% up, closing at almost 5% down.
Not worried, as I am a great believer in this share, so will just put it down to the quirks of the market.
I have held here for 4 years or so and feel it’s a well run company achieving good year on year growth. Happy to hold this long term. Acts in a growing space with a product that any company will or in the future will require depending on legislation requirements. Just annoyed I didn’t picked any up when the price dropped back last year.
Congrats to the team for the continued growth
Very pleased with the continual progress made during 2020/21, especially as they had to deal with the Covid fallout.
My son works in computers, and his companies biggest customer was given a 6 month clear space in the yearly contractual payments.
It was either that agreement, or this customer would have struggled to pay, the monthly contractual fees and probably had been bankrupted.
I would think that as said by Eckoh, although none contact payments, customer not present payments increased, I am certain that if the pandemic had not occurred Eckoh would have made even more profit due to more contracts being signed
Looking forward to their continuing progress over the next 12/18 months.
...should have said, a bit of oomph behind the trading, not just half a dozen shares
..spike up at the end of the day, something brewing?
Rooky, am exploring this company, not holding any. From looking at recent results the US payments business is striding ahead whilst the UK's seems to be more affected by Covid-19. What this rns is not telling me, whilst looking good, is how the UK is faring.
Obviously there is the TFL congestion zone payments 6 year contract extension announced in August. The expansion of the zone, when congestion has probably reduced due to working from home, introduces political uncertainty with elections due. Anything else of significance? The UK has had a higher profit margin than the US, therefore more decline could impact the bottom line.
I will be looking for information come the Trading Update in May, if no news before. Good luck.
...fall today as a tiny Uncrossed Trade (17 shares) went through @ 73p just after the closing bell yesterday
I can see 75p soon, maybe even 80p.
New contract value for US Secure Payments exceeds FY20 total.
Nothing to add, as the above 1 liner says all we need to know, as to the companies future prospects.