Pharma, a company engange in research and developing medical drug and devices was a darling in pharmaceutical in Malaysia.
Recently, it had been hit hard with expired vaccine and the obsolete of PPE, needles etc (for Covid 19 use) impairment which was not utilised by the MOF.
The recovery of its share price had been distorted as they are facing some dispute...
After 2 weeks of rebounding from the bottom, it has come to the weekly trendline resistance at 0.425sen. Obviously it is not the right timing to enter as it will retrace anytime from the resistance line.
Hence, the surge of price does not supported with volume. I will wait for the higher low form above this resistance line before making any consideration. That...
Despite PN17 status, the regression trend is seen to move upward combined with support along EMA50 (green). Looking at 0.49 / 0.54 as the TP.
Trade at your own risk.
Overall it's a purebear stock with mid term swing.
Price was dropped 10% from 470.
Currently still stay above EMA7 (yellow area).
Might drop to EMA20 or below.
Operator must slowly distribute. Watch out folks.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation....
need to retrace ack up to ema50... price need to retrace back to ema50 in whatever market condtion..so, we just take the oppurtunity when price is on retracement mode
Pharma. As Malaysia Health Care Index which comprised mostly Pharmaceutical and Gloves stocks most likely found its “bottom”. While Malaysia Health Care Index found its bottom but not its KLCI index any reasons why?...
CCM appeared on Dec 29, 2021. PHARMA waited for the candlestick to close higher than CCM’s resistance to begin its new climb. Based on EPRAF, CCM breakout is a good sign for traders.
GOODLUCK TRADERS
TRADE AT YOUR OWN RISK
buy at the support will be recommended!!!
“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
JUST MY OPINION!
NOT A FINANCIAL ADVISE!!
MYX:PHARMA
With recent business deal signings will the punters back to this counter?
From 2-3 days observation, personally this counter may still overlooked with addition of MCO 2.0 being introduced - the volume is just not there (yet?)
Like it or not 14mils doses has been bought even some may decries the subpar 50%++ effective rate of Sinovac covid19...
Supposedly the beneficiary of the vaccine story as one of the appointees approved by the government. A duopoly with DPHARMA. However... their price & volume action is dimming fast..
The cup and handle pattern is invalidated.
The recent decision to prioritize Pfizer vaccine over Sinovac really trigger a sell-down on PHARMA stock price with high volume. Expect...
TP: RM 7.20
Comments:
Expected to peak at RM7 by 1st week of August.
statement rationale:
1. Pharmaniaga has been on a downtrend trajectory since May 2015 and has formed a reversal pattern, (cup & handle in daily and weekly chart)
2. Strong product demand, expecting vaccination peak Q3 & Q4/2021. with the arrival of Sinovac Vaccine in July 2021, Pharma...
Pharmaniaga is Bullish and could be catching up ATH price at 7.35 after breaking above symmetrical triangle coincides MACD buy signal above zero level. The share could potentially reach 10.0 if it could close above 7.35 along the trading week. Exit the trade if the price close below 5.0 along the week.
Disclaimer: The content on this analysis is subject to change...
In H4, the stock is forming price action in ascending triangle pattern. Currently is consolidating between 5.42 and 5.80. A good entry would be after it breakout from the triangle @ EP 5.86 with Support at 5.38. TP is at 6.73 and new 52WH 8.25 (Fibo 1.272) - RRR 1:1.8
EP 5.86
TP 6.73 / 8.25
SL 5.38
Stochastic shows a pullback signal, MACD didn’t signal any...
