Introduction: Bioalpha Holdings Bhd is a health supplement company principally involved in agricultural, research and developments, manufacturing, and sale of food and health supplement products. The company’s health supplement product comprises processed herbs, formulated ingredients, functional foods as well as herbal and non-herbal supplements. The business operates in segments that include Trading and Manufacturing, Retail Pharmacy, and Others. The Trading and Manufacturing segment generate maximum revenue for the company. The organization exports its product to Indonesia and China.

Updates: The wholly-owned subsidiary of BIOHLDG – Bioalpha (HK) limited had on 28^th July 2021, entered into a Memorandum of Agreement (MOA) with Crawford Laboratory of the Republic of South Sudan to exclusively undertake the COVID-19 Testing Programme involving the installation of testing facilities, as well as the provision of testing products and services at border entry points in the country. This will enable the prompt COVID-19 screening of all inbound travellers to South Sudan at these locations.

Impressive Breakout: After a long downtrend since the beginning of 2021, the company had seen a half in downside towards the share price. The BIOHLDG – Crawford Laboratory MOA had also assisted in the turnaround of the price, resulting in a strong breakout from the support line of RM0.205.

Attractive risk-to-reward: The immediate support level for BIOHLDG is at RM0.205 (S1) and RM0.200 (S2) respectively. Interestingly, the resistance is at RM0.240 (R1) and RM0.265 (R2) respectively, indicating a 2 times RR.

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