Sino Biopharm 1177

[winston]

not vested

Bullish Tracker: (1177.HK) Sino Biopharma (TRADING BUY)
Bullish downtrend line breakout

After peaking at HKD 9.12, the stock slipped to as low as HKD6.13 before staging a downtrend line breakout to close at HKD6.83, showing early signs of a technical recovery with the MACD moving back into positive territory and the RSI turning bullish.

A clean hold above the HKD6.96 (50% FR) would reinforce the recovery and set the stage for a re-test HKD7.27 (100-day MA) and HKD7.47 (38.2% FR), with a further stretch target at HKD8.10 (23.6% FR).

On the downside, keep an eye on supports at HKD6.68 (20-day MA), HKD6.42 (200-day MA) and HKD6.00 (psychological).

Stop loss at HKD6.40 to limit downside risk.

The stock is trading at forward FY27 P/E of 21.3x, representing a 14% discount to its 5-year average of 24.8x.

Source: HLIB