Zen tech international berhad price Base on chart can cross 0.50

The closing price of Zen Tech International Berhad (ZENTECH) on September 9, 2024, was $0.89, with a percentage change of -1.67%. The stock has experienced a significant decline over the past year, with a loss of 57% from a year ago. However, the company has recently raised a substantial amount of funds, which could potentially be used to support growth and improve financial performance. 1. **Fundraising and Growth Prospects**: Zen Technologies raised 10 billion rupees ($119 million) through a qualified institutional placement, which could provide the company with the necessary resources to expand and potentially increase its stock value. 2. **Market Performance and Sentiment**: The stock has shown a strong rally, with a 124% increase in share price in the year-to-date period. This suggests a positive sentiment among investors and potential for further growth. 3. **Technical Analysis**: The stock is currently trading above its 50-day and 200-day moving averages, which could indicate a bullish trend. However, the stock has faced significant selling pressure in recent weeks, with a strong sell signal from technical analysts. 4. **Analyst Ratings and Price Targets**: Analysts have given a buy rating to Zen Technologies, with a target price of INR 1,820, which is significantly higher than the current price. This suggests that analysts believe the stock has potential for growth. 5. **Market Conditions and Risks**: The stock market in India and Malaysia can be volatile, and investors should be aware of the associated risks. Additionally, the company's financial performance and future growth prospects should be closely monitored. In conclusion, while there is potential for Zen Tech International Berhad's stock price to cross $0.50, investors should consider the risks associated with the stock market and the company's financial performance. The recent fundraising and positive analyst ratings provide some optimism, but investors should also be aware of the potential for further selling pressure based on technical analysis.