$1093.HK #HongKong #HSI #CSPC #Pharmaceutical #Stocks #Trading
The global vitamins and mineral supplements market is expected to grow from $51.70 billion in 2019 to 61.16 billion in 2020 at a compound annual growth rate (CAGR) of 18.3%.
The dietary supplement market, particularly the sale of vitamins and mineral supplements is skyrocketing during the COVID-19 pandemic. Vitamins and mineral supplements are seen as a proportion of control and are used by people to build their immunity to keep themselves healthy.
Vitamins and minerals positively affect the health and wellness of the population. The market is then expected to stabilize and reach $74.61 billion in 2023 at a CAGR of 6.85%.
CSPC Pharmaceutical Group Limited is an investment holding company principally engaged in the manufacture and sales of pharmaceutical products.
The Company sells its products under the brand of CSPS.
The Company has four business segments: Finished Drugs, Antibiotics (intermediates and bulk drugs), Vitamin C (bulk drugs) and Caffeine and Others (bulk drugs).
All these segments are engaged in the manufacture and sales of related pharmaceutical products.
The finished drugs include the antibiotics, cardio-cerebrovascular drugs, diabetes drugs, neurology drugs, oncology drugs and traditional Chinese medicines.
The Company is also engaged in the provision of pharmaceutical research and development services, as well as the processing of sewage and pharmaceutical by-products through its subsidiaries.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 14.52.
The projected upper bound is: 16.68.
The projected lower bound is: 14.06.
The projected closing price is: 15.37.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 18.8976. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 22 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.55. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -88. This is not a topping or bottoming area. The last signal was a sell 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
CSPC PHARMA closed up 0.120 at 15.320. Volume was 89% below average (consolidating) and Bollinger Bands were 18% narrower than normal.
Open High Low Close Volume 15.420 15.480 15.120 15.320 5,390,280
Technical Outlook Short Term: Oversold Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 15.75 14.23 14.65 Volatility: 50 59 56 Volume: 44,968,724 52,977,908 46,091,784
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
CSPC PHARMA is currently 4.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of 1093.HK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on 1093.HK and have had this outlook for the last 35 periods.
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