$JSEAIP - Adcock Ingram: Worth A Deep Dive Into
Adcock released a very good set of interim results for the six months ended 31 December 2022 yesterday.
Revenue +8%
Gross profit +8%
Trading profit +15%
HEPS +20%
Dividend +20%
This is an overlooked stock but one good set of results certainly does not mean buy so I guess a deep dive is necessary on this one.
The technical picture is also a good looking one.
From the January 2016 low at 3544 to the 2018 peak at 7200, the stock advanced in five waves.
The selloff to 3700 unfolded in three waves and most importantly, held above 3544.
The advance from the 3700 low has been choppy but in the short-term looks to still have upside potential to around 6200.
Revenue +8%
Gross profit +8%
Trading profit +15%
HEPS +20%
Dividend +20%
This is an overlooked stock but one good set of results certainly does not mean buy so I guess a deep dive is necessary on this one.
The technical picture is also a good looking one.
From the January 2016 low at 3544 to the 2018 peak at 7200, the stock advanced in five waves.
The selloff to 3700 unfolded in three waves and most importantly, held above 3544.
The advance from the 3700 low has been choppy but in the short-term looks to still have upside potential to around 6200.
