Sector: Pharmaceutical / Vaccine

Analysed on 22/08/21

PHARMA seems to have found the bottom and rebounded recently. PHARMA is currently trading at RM0.925, with immediate support at RM0.890, and immediate resistance at RM0.960. Should PHARMA break the resistance, it will challenge the next resistance at RM1.040. Note that EMA25 is now trending below EMA50, it will require golden cross (EMA25 moves above EMA50) to occur in order to confirm that PHARMA is on an uptrend rally.

We are in opinion that PHARMA is the counter worth monitoring due to their current supply of SINOVAC Vaccine to the government (additional order of 6 million doses placed recently) and private sectors in Malaysia, and also the potential introduction of booster shots for vulnerable and high-risk groups. Besides, it was also mentioned in their recent QR that PHARMA is currently in discussions with Sinovac Biotech Ltd to facilitate the export of the vaccine to countries that face challenges in securing sufficient supply, including Indonesia, The Philippines, Cambodia, Thailand, as well as several African nations. Should the plan to export vaccine materialises, it will definitely benefit PHARMA in the next few quarters.

Reason to Monitor: Potential Reversal to Uptrend / Opportunity to Export SINOVAC Vaccine

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