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Shanghai Pharmaceuticals Holding ST: above its upper Bollinger band
Trading Central | 2019-02-12 09:21:00

The MACD is above its signal line and negative.

Our pivot point stands at 16.4.

Our preference: short term rebound.

Alternative scenario: the downside breakout of 16.4 would call for 15.7 and 15.2.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the share stands above its 20 day MA (16.58) but below its 50 day MA (17.52). Finally, Shanghai Pharmaceuticals Holding has crossed above its upper daily Bollinger band (17.27).

Supports and resistances:
19.9 **
19.4 *
19 **
18.5
17.45 (CNY-last)
16.6
16.4 **
15.7 *
15.2 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 02-12-2019 at 10:21 UTC+1
Price reference: 17.45 last known on 02-12-2019 at 10:21 UTC+1
Investment horizon: ST

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