Timonrosso

Adcock showing strong upside to R57.61 but with warning

ロング
JSE:AIP   ADCOCK INGRAM HLDGS LTD
Inv Head and Shoulders formed on Adcock and now the price is above the neckline showing upside to come.
7>21>200
RSI>50
Bullish
CONCERNS:
This is a very volatile, flimsy and illiquid stock compared to the Blue Chips. I call these unhealthy charts which seldom work well with breakout patterns. Maybe as a Weekly analysis or Monthly will show some more promising price action, but daily is dangerous by just looking at it.
Target R57.61

ABOUT
Adcock Ingram is a South African pharmaceutical company that was founded in 1891 by Thomas Adcock and Joseph Ingram.

It has a market capitalization of over R9 billion (Hence Medium Cap company that I don't like to trade).

Adcock Ingram is one of the top pharmaceutical companies in South Africa, with a strong focus on the manufacturing, marketing, and distribution of healthcare products. They are also known for their insulin and penicillin.

It has a ton of products, including over-the-counter medicines, prescription medicines, and medical devices.

Some brands which I'm sure you know and helped you through Covid and your sick days are:

Corenza: A popular brand of cold and flu medication in South Africa, known for its effervescent tablets.

Linctagon: A range of cough and cold medications that includes lozenges, syrups, and capsules.

Compral: A well-known brand of pain relievers, including tablets and capsules.

Probiflora: A range of probiotic supplements designed to support digestive health.

Bioplus: A popular energy supplement that is available in a variety of formulations, including capsules and effervescent tablets.

Panado: A brand of pain relievers that is commonly used to treat headaches, fever, and other common ailments.

Sominex: A sleep aid medication that is used to treat insomnia and other sleep disorders.

Adcock Ingram has a strong presence in the African market, with operations in over 10 countries on the continent.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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