Sino Biopharmaceutical (HKEX: 1177) upside is returning based on technicals:   

1. The bullish candle which rebounded on last Friday has invalidated the three dark crows candle formation, thus stopping the bearish sell-off momentum.
2. The bullish rebound has also successfully closed above the Tenkan-Sen. Furthermore, the Ichimoku has shown the “three bullish golden cross” signal especially as prices have sustained above the kumo for 5 consecutive periods.
3. Directional movement index shows strong bullish trend after DM+ is above the 30 level and ADX is sustaining above 20.

*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