Adcock showing strong upside to R57.61 but with warning

17 ก.พ. 2023

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.