KPAY traded almost eight times its 30-day average volume of 8.91 million shares.
KPAY stock jumped almost 50% from its opening price of $0.0085. The way KPAY is moving, the stock can reach its 52-week high of $ 0.0220. In the last 6 months, KPAY gained over 1140.0%. It is trading well above its 50, 200-day moving averages setting a bullish tone.
Good news flows from China for KinerjaPay
The company states that it received the first payment of IDR 22.62 billion from China for the shipment of steam coal.
KPAY will use the funds to pay off its contractors and suppliers.
Estimated profit from the transaction stands at IDR 2.47 billion.
May 25, KinerjaPay expects to commence uploading the second consignment to China.
KPAY finished Thursday near its highs, which may be a good sign for the bulls.