Sinovac Biotech Ltd (SVA) : Price still above Tenkan sen

I have deliberated on posting on SVA after news of its offering came out.

With yesterday closing, the chart still shows that the price level is intact despite the dilution due to the new shares offering.

We can see that the price started off low (gap down) and went on to close high. The final closing price sits on top of the Tenkan sen (red line).

Let’s see if it has any chance to break the 7.80 resistance (possibly through good financial results?)

By iam802

Trend trading with Ichimoku