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Sinopharm Group (1099.HK) rebounds after posting an upbeat 9-month result

 Sinopharm Group (1099), a drug company , rose around 5% after the corporate announced that 9-month net grew 7.8% on year to 4.96 billion yuan on operating revenue of 327.61 billion yuan, up 4.8%.

Besides, Chinese Media reported that 4 Covid-19 Vaccines of Sinopharm are conducting the phase III clinical trial clinical tests in overseas countries.

Technically, the stock posted a rebound and broke above a declining channel. Currently, the costs stand above its 20-day moving average. The relative strength index also indicates a bullish divergence signal.

The bullish readers could set a price at HK$16.40, while resistance levels would be HK$19.00 and HK$20.40.