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The 3 psychological price level is defended. Price volume movement looking healthy against the moving averages, poised for a bigger scale rebound to the MA200 level ~3.4 post budget clarity on insurance policy premium. But please note that on a technical level, this is just a rebound. Following a rebound we still want to expect healthy resumption of downtrend and see strong support before confirming a reversal
Can you all see how Dpharma is controlled now? With just a few hundred k shares volume a day they can press it down just enough to break previous low, and they can pull it back up effortlessly with just 1-2 million volume . This is left to right hand, right to left hand game
But Dpharma fundamental prospect is intact with expanding healthcare budget, weak USD and trend of generic drugs (medical inflation). Collect below 1.20 is no brainer, but u have to slowly collect and wait
My opinion is as such, never play trading with charts on this counter, also on big counters with heavy epf stake. With big shareholding, they can artificially press down prices hence technical chart is not “natural”, unlike in US where shareholdings are dispersed across globally, with no single entity having “final say” to manipulate.
The current movement feels like July, pulling up with little volume for a fake breakout and close low. Let’s hope for a final push down before oct-Nov catalysts
If we expect the renewal of insulin contract to be somewhere in Nov after Oct expiry (the last extension was announced in May despite expired in April), and the next qr earning is continued to be buoyed by good forex, higher gov orders (q3 q4 is better than q2, q2 gov orders are quiet), then maybe somewhere to pull ahead of Nov qr is oct, let’s see if it can stand above 1.4, or it wants to wash down again to 1.3 or 1.28 before Nov
1.41 today. Short timeframe breakout. Fake breakout or real? Dpharma must stand firmly above 1.4 on a technical perspective , but bots manipulation make it tricky to catch
