Genscript Biotech (HKEX: 1548) Despite a stop-loss based on our report dated 25^th November, we managed to achieve our first target profit in Dec 2021. Recent technicals have also shown a strong bullish continuation:   

1. The breakout of the falling wedge signals a bullish renewal and last Friday’s hammer pattern rebounded from the falling wedge’s sloping support line.
2. The descending triangle breakout in November 2021 was well reflected in the recent breakout of the falling wedge.
3. ADX line is bottoming, which is a potential sign for returning of a trending market.

*Expected timeline of the trade is 25 weeks from the date of report issuance.

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line