OCTOBER 17: HK BULLS - REGENT PACIFIC. Last Signal: BUY. Last Pattern:BULLISH ENGULFING! Last Close: 0.1390 Change: +0.0060 Percent change +4.51%
Signal Update: Our system’s recommendation today is to BUY. The BULLISH ENGULFING pattern finally received a confirmation because the prices crossed above the confirmation level which was at 0.1350, and our valid average buying price stands now at 0.1360.
I expect a strong bounce from here. How high will depend on news flow. Time to load up the truck fellas ;-)
Regent Pacific is not a newco, but trading on the HKSE for 22 years and has distributed almost US$300m to holders since its IPO. Not a bad track record. Management have significant skin in the game. Jim has promised to keep the lights on for now and FDA approval getting closer and closer by the day. No need for major concern IMHO. ATO tax claim can be settled almost entirely from our VXR holding, not a major issue . Strong news flow during the next 3 months will generate upward share price momentum. Moreover, Regent Pacific already flagged their intentions to make a move on the exciting hemp CBD infused products in China on JUL 18 and again on AUG 23, as such I expect the company to follow through and secure a major game changing CBD deal in the short-medium term. Clear vision, hard work and full @#$%^&* throttle forward!
Bignose, depends on news flow. I expect the following news flow within the next 10 weeks or so:
+ Update on CBD development in China. + Confirmation of completion of FDA Phase II validation study. + New launches in Greece and Romania. + New launches in Hong Kong and Macau. + ATO settlement (at long last). + Update from Wanbang on application for clinical trial approval in China. + Payment receipt of US$4,000,000 from Wanbang (maybe a few more weeks away). ++ Maybe some positive news on licensing agreement(s) for North America, India, Israel/Middle East and/or the LATAM region. ++ Maybe also some news on Recordati re-launching Fortacin™ in France, Germany, Italy, Portugal, Spain and the UK.
The SP move up/down in waves. Have a look at the stochastic chart which show we are at a trough right now. False break of the Bollinger bands on low volume IMO. Over sold. Should bounce hard from here. How high depends on news flow. A fair bit of news to look forward to so hang in there Bignose.
HK BULLS 26.09.2019: Buy Level 17.2c. Possible bull run? "The market is finally giving hints of a bullish resurgence. Today a bullish pattern is detected. Based on this pattern, in response to emerging market bullishness the system established new confirmation and stop loss levels. The signal tells us to STAY IN CASH, but the chance of a bullish confirmation that will change the signal to BUY is quite high. The Delayed Intraday Module is ON. We strongly suggest you to follow the price action on an intraday basis in order to profit most from the early phase of a possible bull run."
Nice run up to 18.5c today on higher volume but pushed back to 17.8c by a c. 600k sell order by Merrill which was lowered and lowered just before close. Upward momentum should continue on Monday with buy side looking much more solid now. Happy days!
Thanks for the FDA Phase 2 update, bignose :-) Nice upward move today +4.24%. RHB Sec and South China very active on the buy side today. 17.7c bid by South China just seconds before close. Buy side looking much more solid now. Should be a good day tomorrow! Merrill noted on buy side today. Upwards and onwards!
Seems like merrill is hellbent on driving the share price lower and lower. Persistent at the front line of the sell side. 14:18: 220k line swipe buy @ 16.8c and within seconds the mongrels have a 20k sell order @ 16.6c walking the sp down on very low volume. You can not short 575 so could it be paid work for a cheap T/O offer? Will keep an eye on this disturbing trading activity.
Bignose, maybe share manipulation by Merrill? A 150k sell order @ 16.7c from Merrill was gradually increased to 350k after lunch, and just before close (around 15:55) it was lowered to 16.5c and then cancelled around 15:58. Similar trading manipulation by Merrill noted during the last few weeks, where we have seen a significant drop in SP on very low volume. Lots of 10, 20 and 30k sells. The Korea Exchange (KRX) recently imposed a 175m won fine on Merrill Lynch’s South Korean unit for irregular trading activities. Maybe David Webb should investigate.
Hold fast fellas, plenty of news to look forward to within the next few weeks/months:
- Update on CBD development in China - Confirmation of completion of FDA Phase II validation study - New launches in Greece and Romania by Recordati - New launches in Hong Kong and Macau by Orient EuroPharma - ATO settlement - Update from Wanbang on application for clinical trial approval in China - Payment receipt of US$4,000,000 from Wanbang - Maybe also some positive news on licensing agreement(s) for North America, India, Middle East and/or the LATAM region.
It is very positive that Recordati has re-launched Fortacin™ in France, Germany, Italy, Portugal, Spain and the UK - showing commitment. Indeed, as bignose pointed out, Fortacin is a world class product - just require brand awareness. Hang in there guys. Fantastic opportunity to pick up a few more shares at these levels.
Regent Pacific Group Limited (the “Company”) announces that the board of directors of the Company (the “Board” or the “Directors”) has scheduled a meeting to be held on Friday, 23 August 2019 at 4:00 pm (Hong Kong time) for considering and approving the Company’s unaudited interim results for the six months ended 30 June 2019 and that the Company will make a preliminary announcement in respect of its interim results on that date.