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C&O Pharm writeup
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Gallen
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08-Mar-2006 22:23
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Hi, on request from one of my viewers and upon the release of Star Pharm's results, I have done a simple fundamental analysis for the 4 pharmaceutical stocks. Extracted from my blog ((http://kelongstocks.blogspot.com), please visit blog for full details of writeup: Chart for C&O shows it is still in uptrend but under consolidation after recent breakout. Immediate resistance is at 42 to 43 cents while supports are at 39.5 (previous resistance turned support and recent low), followed by 38.5 cents (recent low) and 36.5 cents (gap support). Chart shows that C&O has broken out of previous high of 39.5 cents and technical target based on breakout is around 47/47.5 cents. Indicators are bullish for C&O with RSI heading towards overbought zone, stochastics in overbought zone while MACD still in positive territory although consolidation taking place. |
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