JCR Pharmaceuticals Co., Ltd High potentially stock in long position

• 2019-08-28
• Traiding Idea

JCR Pharmaceuticals Co., Ltd. is a Japan-based company primarily engaged in the pharmaceutical business, as well as the medical and research equipment business.

Scope of Business:
Manufacture, selling, buying, import/export of pharmaceutical products, Regenerative Medicines and drug substances. Selling, buying, import/export of medical devices and laboratory instruments.

Listed on:
Tokyo Stock Exchange First Section
(Securities code:4552)

Employees:
613（As of March 31, 2019)

Paid-in Capital:
JPY 9,061million

Founded:
September 1975

Financial Data:

The yearly Results of the company are growing each year. For the three months ended 30 June 2019, JCR Pharmaceuticals Co Ltd revenues increased 10% to Y5.16B. Net income applicable to common stockholders increased 31% to Y369M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Reversal of provision for loss on guaran increase of 13% to Y9M (income), NOP Other Income increase of 33% to Y4M.

Technical Analysis:

First of all we have an upward trend for JCR- Pharma chart. The Trend is also in an ascending  Channel and at the momemt the price is in Sniper position,  so price is above exponential moving avererage 20 , 50, 100, 200, in all time frames daily, H4, H1, M30, M15. The second Reason the price is from middle of july in an Ascending Triangle and Compressing for a big movement. From Price action point of view market is clearly making higher lows and higher highs . That is the simplest way of indicating of uptrend.

Elliot waves:

On the Daily chart, an upward wave developed and the price is completing wave (3). 161.8% fibonacci of wave (1) is the next target of price. the wave 3 could be ended at this Level. and begun a correction for wave (4)

Trading tips:

To open long positions, one can rely on the breakout of Ascending Triangle from 7864 or after Breakout waiting for pullback and then open the long position.
Take profit on the top of the Channel.
TP: end of Elliot impulse wave 3 or R2 Monthly @ 8500