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HU3SBIO@EC2606A
17493.HK
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Morning Trend | 3SBIO declines on reduced volume, is the support defense battle about to begin?

As of the close on January 21, 3SBIO (1530.HK) continued to oscillate downward, with trading volume consistently shrinking during the session. The main funds showed a strong wait-and-see sentiment, and the strength to seize rebounds was limited. The daily MACD death cross pattern continued, with green bars expanding, making it difficult to reverse the weak pattern in the short term. Overall, the dominant market sentiment remains defensive, with most short-term funds choosing to enter and exit quickly, showing a clear lack of willingness to sustain long positions. In terms of the industry, the biopharmaceutical sector has recently performed weakly, with the uncertainty of price reductions from medical insurance centralized procurement and adjustments to the new medical insurance catalog increasing pressure on growth-oriented pharmaceutical companies. 3SBIO has recently lacked new product approvals or significant business developments, and the company's news flow has been dull, leading to a further decrease in market attention. The overall sector is not very active, with many institutions in the market remaining on the sidelines, and defensive sentiment dominating. From the market perspective, CNY 23.58 has become a key level of divergence between bulls and bears. A short-term breach could indicate a second bottoming signal. A decline on shrinking volume typically indicates that active selling is nearing a temporary completion, but if subsequent volume cannot recover, the downward inertia will still prevail. In terms of intraday performance, there has been some inflow of funds attempting to seize rebounds, but there is a lack of supporting follow-up buying, raising doubts about sustainability during the session. In terms of strategy, it is recommended to keep short-term risk exposure at a low level and closely monitor the trends in medical insurance policies and changes in sector funding. Currently, there are no clear reversal signals from both technical and fundamental perspectives, and right-side trading users should mainly adopt a wait-and-see approach, avoiding adding positions against the trend. Only significant positive news, such as new drug approvals or a notable recovery in trading volume, is likely to bring about a phase of rebound opportunities

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Technical Forecast·
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