$MCP:ASX - MCPHERSONS - China opportunityMcPhersons is a supplier of health, beauty, household and personal care products in Australasia and increasingly China which caught my attention. Looks like it might be about to have another bit of a run after a period of consolidation. Might be worth a watch.
McPherson's Limited is a supplier of health and beauty, consumer durable and household consumable products in Australasia, with operations in Australia, New Zealand and Asia. The Company's segments are Australia, New Zealand and Rest of the World. The health and beauty division markets and distributes beauty care, hair care, skin care and fragrance product ranges. The home appliance division markets and distributes appliances, such as ovens, cooktops, washing machines and dishwashers. The household consumables division markets and distributes kitchen essentials, such as plastic bags, baking paper, cling wrap and aluminum foil. The Company's health and beauty brands include Manicare, Lady Jayne, Dr. LeWinn's, A'kin, Glam by Manicare, Revitanail, Swisspers, Footcare, maseur, Moosehead, DaVinci, Eylure, Elegant Touch and Goodness. The Company's household consumable brand is Multix. The Company's home appliances brands include Euromaid, IAG, Elica and ARC.
MCP trade ideas
$MCP flag forming after the sign of strengthLong-term view: $MCP may have bottomed after coming out of a 3-year long inverted Head & Shoulders pattern back Feb. It's currently in Stage 2.
Current view: after bouncing off the 50 & 200DMA on Aug 23, $MCP gained over 20% in 6 days on strong volume. The current low volume pullback, the bounce on above average yesterday (Sep 19) and then the inside bar today is very constructive and may indicate the continuation of the uptrend.
