STOCKWATCH: Guangzhou Pharma sustains on 10-day MA line; soon to see HK$1.45

Performance of Guangzhou Pharma (0874) has been an outstanding pharma stock among red chips and state-owned enterprises. It hit another new 52-week record on a substantial turnover this morning, only to retreat later on meeting take-profit selling. Charts, however, reflect multiple-head tendency in technical indicators such as RSI as well as MACD. If the stock should be able to stabilize in the near future at HK$1.33 or on the 10-day moving average line near HK$1.2, investors could go on holding. It may see HK$1.45 soon.

Related stock : (874)