Adcock showing strong upside to R57.61 but with warningInv 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.
