Technical Pulse: Genscript Biotech Corp November 25, 2021 510


Genscript Biotech Corp (HKEX: 1548) Technicals are showing a bullish return after a brief period of consolidative range from July to October 2021:   


  1. The break to the upside of the descending triangle indicate a bullish return to the upside.
  2. The confirmation of the double bottom from 18th October and 8th November has confirm a new uptrend by having a series of higher highs and lows.
  3. Despite prices face some tough resistance at 61.8% of the Fibonacci retracement, prices did not face strong selling and instead, it was consolidated into a small range above the neckline resistance turned support zone at HK$33.60-HK$35.27.
  4. Ichimoku is showing three bullish golden cross signal.
  5. The On-Balanced volume rally has confirmed the uptrend.



*Expected timeline of the trade is 15 weeks from the date of report issuance.



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

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