As stated in the report of Credit Suisse, the third quarterly revenue of SH PHARMA (02607.HK) +0.080 (+0.414%) Short selling $643.69K; Ratio 4.148%
shot up 27.7% to RMB 24.703 billion. Excluding special items, the
increasing rate of earnings recorded a year-on-year increase of 13.9%,
an acceleration from 5.8% in the first half of the year. It is believed
that the annual core earnings will record a double-digit growth. The
target price of Shanghai Pharmaceuticals was lifted from $15.04 to $19,
which represents 15x of P/E. The rating was maintained at Neutral.
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
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