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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
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
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
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.
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
Jack lee: pharmaniaga is planning to supply insulin to government hospitals. will this affect dpharm in any way? as dpharm has been the only supplier for biocon insulin for many years up to current.
Quap: imo, pharmaceutical companies generally manufacture medicines based on supply and demand (which is quite constant). Under normal circumstances, writing off expired medicines is not a major issue. However, in Pharmaniaga’s case, it was a one-off incident — they misjudged the duration of covid and ended up purchasing excessive stock.
