The Group Average Price did a double bottom on 20 Dec 2006 and rebounded (Point A below), rised rapidly to its resistance (Point B) and retraced. From the chart, if it is able to rebound and break above the resistance again, a Cup & Handle breakout formation can be expected.
China Pharma Group:
asiapharm group ltd (sgd)
reyoung pharm holdings limited (sgd)
c & o pharm tech (hldgs) ltd (sgd)
star pharmaceutical limited (sgd)
tianjin zhong xin pharm group (usd)
pharmesis international ltd. (sgd)
China Pharma Stocks (10 Nov 2006):
The China pharma group continued to underperform and had just broken the recent support (topmost darker horizontal line) and is currently testing the next lower one. If the current support is broken, the Group Average Price will fall further to test the next much lower support levels. For the time being, it is safer to wait sideline and observe the next move:
Pharma and Plastic Stocks (13 Oct 2006):
China pharma group (Red) may have found its base and is leveling off, while the Plastic group (Black) has inched up for the past week:
