Sinovac Biotech Ltd (SVA)

[iam802]

SVA is on the move again. Given the overall weakness in the broader market, we have to be careful here.

I have previously mentioned that there is a chance that SVA will not go down further due to the subscription to its common share offering.



From the Ichimoku chart, we can see the following :

1. Chikou Span (green line) is about to pierce through the price level.
2. Coincidently, this is the level that SVA has previously gap down.
3. On top of that, the price level is now right below the Kijun sen (purple line) at around 6.78
4. As mentioned, given the broader market weakness, I will keep a tight stop-loss.

[helios]

Good lúck, Bro.

On the other hand, i won't be surprised if SVA continues to move upwards ... money is pouring into the sector ...

[iam802]

Sinovac Completes Acquisition Aimed at Expanding Production Capacity

http://www.prnewswire.com/news-releases ... 75817.html

Notes:
- completion of acquisition of buildings and land use rights.
- total consideration for the purchase is approximately RMB120 million ($17.6 million)
- financed from working capital
- initial payment of RMB56.5 million ($8.3 million) will be paid before February 20, 2010 and the balance of the purchase price will be paid in three installments within three years.
- site was previously used to manufacture medicinal products.
- Sinovac plans to set up two new production lines with a combined annual production capacity of approximately 40 million doses, a filling and packaging line, a warehouse and an animal house.
- will use it to manufacture EV71 vaccine, which causes hand, foot, and mouth disease (HFMD), and its other currently marketed flu vaccines

[iam802]

Chart reading for SVA
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Sinovac Biotech (SVA) has rallied over the past few days with the broader market.

From the Ichimoku chart, we can see that it is now facing immediate resistance from the gap at around 6.78.

We can also see that the Kijun sen (purple line) is right at 6.78

My guess is that it will hold above 6.50 .

If it breaks through the Kijun sen, the next target is around 7.26 and 7.53

The leading kumo is also flattening; a sign that it is settling into an equilibrium (most likely the price will take a breather near the flat kumo before pushing forward again)

[kennynah]

i would not go LONG at this time...

[iam802]

I agree. Now is not the time to go long.

For my case, I have entered a position when it hit the lows.

So, I am waiting to take profit and run or use my eye-power and try to help it break the resistance levels

[kennynah]

From the Ichimoku chart, we can see that it is now facing immediate resistance from the gap at around 6.78.

We can also see that the Kijun sen (purple line) is right at 6.78

this is one reason why i think itchy mushroom is a formidable TA tool... many a times, these kijun/tekan sens, clouds, etc... coincide very nicely with the more prevalent TA tools like SMAs, trendlines, fibonacci, etc...

and in this SVA case, clearly, one can appreciate the meeting of different TA tools on this resistance price.... and i promise, there was no pakart pakart between us before these posts

[iam802]

I find the support and resistance levels from the Chikou Span to be close to Fibo.

So, lots of time, when you post fibo stuffs, I will know that there is a high chance my chart will show similar levels.

[iam802]

Trailing-stop is triggered.

I move it up when it go above to 6.8+

Well..profit is better than loss.

[kennynah]

huat ah.....very nice