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MYFIZIQ is a Speculative Buy Above AUD 0.16

MYFIZIQ Limited is an Australia-based company that is engaged in the development of a mobile application technology that is converting photos taken with a smartphone or any digital device equipped with a camera into a three-digital rendition of the human body also known as a personal avatar.

The price chart very much looks alike a crypto price chart with a massive price pump during the second half of 2018 that has subsided into a similarly deep but lengthier correction. The corrective move may now be coming to an end with a very clear supporting line forming under the price.

All our analysis are probabilistic and in the case of MYQ it is a higher risk proposition since a high percentage loss could be incurred if it does break below the identified price support (which is below the bottom of the current monthly candle at AU$ 0.16). On the opposite the potential gains are considerable with a high reward/risk ratio and therefore we identify MYQ as a speculative buy at the present level.

MYQ Monthly Price Chart

At the time of posting MYQ is priced AU$ 0.195, which is a decent buying price level and to be allocated to a long term portfolio targeting a multiple increase in valuation of the stock price.

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