Kintor Pharmaceutical Ltd (9939 HK)

  • Shares formed a bullish engulfing pattern last Friday. 
  • Previously it broke out the downward channel and managed to trade above 200dEMA. 
  • It pulled back to near 200dEMA level and retested it twice. 200dEMA (HK$50.2) will be the near-term support. It is poised to break above the consolidation lasted for two weeks previously. 
  • MACD showed an early sign of weak momentum, but RSI is constructive. 
  • Long – Entry: 59 (but stop), Target: 69, Stop: 54