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ASPEN PHARMACARE HLDGS LTDASPEN PHARMACARE HLDGS LTDASPEN PHARMACARE HLDGS LTD

ASPEN PHARMACARE HLDGS LTD

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APN trade ideas

Aspen Pharmacare - Bull Flag Build-UpThe technical setup and trading action for Aspen Pharmacare is signaling that it is willing to make further price advances. Yesterday, we received additional confirmation of this as the share traded in the low R140s before closing the session at 146.20 (+1.18%). The R139 to R141 level has been a fairly strong support zone while the share is also currently making another attempt to regain it's 50-day moving (MA). This MA is starting to stabilize on the downside, signaling a slowdown of the bearish momentum and a potential for a medium bullish move. We also note the formation of a bull flag pattern - where the share is currently breaking to the upside. On an intraday basis we may see the price make small pullbacks toward the 144/143 level however traders should monitor these zones to determine whether there is strong buying support. In addition, the short term 20-day moving average is also being challenged which could add to the short and medium term bull case. On the upside, the targets are R152 and R157 (top of bull flag) while R163 could be reached should the aforementioned levels be eclipsed. On the downside, a stop-loss of R137.70 must be applied. Preferred accumulation levels: R144.30/144.80. JSE:APN
JSE:APNLong
by LD_Perspectives
Are ASPEN's Woes Nearly Over?Aspen is a global supplier and manufacturer of branded and generic pharmaceutical products as well as infant nutritionals and consumer healthcare products in selected territories. ASPEN has been under the microscope over the past few years with various negative rumors and investigations driving the share price lower and lower. I believe that we haven't quite seen the bottom yet but that there is a possibility of strength to come soon. Perhaps a take over is what they need? Technicals The corrective structure has seen a break of the 61.8% Fib retracement level and is currently trading below it. I am expecting to see wave 3 end at the 78.6% level. In my opinion, it is likely that there will be a rally from that point onwards and that the structure will break to the upside. A larger retracement than that would indicate serious repercussions for ASPEN and I am certain that they will do everything in their power to avert a further decline in share price.
JSE:APNLong
by Linton_White
Aspen : Bullish price action Aspen had an incredibly difficult 2018, with the stock losing over half of its value in only a few months. The sale of Aspen’s infant milk business (a price below market expectations) together with the elevated debt levels are seen as major catalysts leading to the decline in Aspen’s share price from R 260.00 to below R 130.00. Reviewing the time series, we note signs of positive momentum indicators, this after building a solid base around the R 132.00 / R 135.00 levels. Stock is starting to re-act to most recent broker upgrades and can possibly recover to the R 200.00 - R 220.00 over the medium term. One to watch!
JSE:APNLong
by Logaro1