Penny Stocks Analysis

China SXTC Pharmaceuticals Stock Forecast 2021

China STXC Pharmaceuticals, Inc. is a holding company that specializes in traditional Chinese medicine research, development, manufacturing, marketing, and sales (TCMP). Direct-oral, after-soaking-oral, fine, and normal TCMP is among its product types. Suxuantang is the brand under which the company sells its goods. Feng Zhou started the firm in 2005, and it is based in Tainan.

China SXTC Pharmaceuticals Stock Summary:

You can see this stock traded up 41% in one single trade. And on my right-hand side here, there’s a big green candle today the stock yesterday traded about $1.50. And then today traded about $2.12 cent, you can see this stock was half the run-up at the beginning of 2021 would that is the world running from $1 to $5. So potentially this stock and might as well go back to that level.

sxtc stock forecast

China SXTC Pharmaceuticals Stock Technical analysis:

Today’s there is no specific news about this company. But of course, it goes in the pharmaceutical business model usually get short, very heavily. And sometimes they get short squeeze out that position. So short-seller has to learn how to stop buying to lock in again. So that’s a reason why there’s so increase in their buying volume compared to selling volume. So that’s what the Create a short squeeze. As you can see, at the beginning of trading. Today, the stock was squeezing up to $2.30 cent, but then kind of the volume is wasn’t there enough to continue to push the stock price even to go higher. So it was traded sideways a little bit and then kind of dropped back down after trading after market hours. So really, it is not really anything that you can predict from this short-sweet unless you’re running the scanning during the trading day is to see what stops what stock is popping up. But honestly, I wouldn’t be able very careful unless this stock comes out with some positive news about your trucks or anything happening.

sxtc stock forecast

Based on my opinion, this stock might as well go back to $1.50 or less next week, there is some positive news coming out, and the pre-market that pushing the stock price even go higher and go back to the $5 level and they can be they were at January of 2021. So let’s took a look at a longer timeframe here and maybe a one-day timeframe as you can see in February the stock was running up to $5 but it had been shorting away back down to $1 stats creates a short squeeze. So here they were shorted over to this area and they’d have to take profits. So we usually do see the bounce of this stock and then keep shorting bouncing a little bit here and continue to sell off until they reach this level is $1.20 and it already consolidates can consolidate for last couple months you know kind of traded sideways and then as you can see yesterday have Jetsam signal that the stock might squeak and biggest yesterday trading was a little bit more candle and then today it was a big green candle as you can see scattered squeezing up I can say and tell you this is resistant to dollar 60 is a key that you should be looking at if you want to get involved into this company because it’s touched that resistance in a pass over here and the bigger one a probably this one $5 level. So you can see that 250 to 60 and a $5 solid to really far but the closest resistance for this stock as of right now.

sxtc stock forecast

When it comes to Elliot waves analysis, this stock is bullish with no doubt, In the last months, the price has made a strong bull running from 1$ to 5$ which means +400% in few months. I think that move was the 1st impulse bullish wave, then the price started moving down with a clear correction pattern and reached 1.17 low in the last few weeks. I believe it was the bottom for the next bullish wave. I expect to see the STXC stock price trading above 5$ level in the next few months. If you will buy this stock, you should use 0.80 as your SL level and you are free to set your target level, but personally, I would place my TP level at 5$

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