Explaining the current impasse in fibonacci terms:
> In the previous upmove 0.618 was the resistance from which share price retreated despite blockbuster earnings coinciding with a slew of negative news..
> After finally exploding through 0.618 level, the next logical resistance level of 0.786 is the new barrier.... Once it overcomes this resistance it may travel all the way to the ATH level
>Last May post Q1 results the party had started for Natco Pharma, the cycle may repeat this time around
> In the previous upmove 0.618 was the resistance from which share price retreated despite blockbuster earnings coinciding with a slew of negative news..
> After finally exploding through 0.618 level, the next logical resistance level of 0.786 is the new barrier.... Once it overcomes this resistance it may travel all the way to the ATH level
>Last May post Q1 results the party had started for Natco Pharma, the cycle may repeat this time around
Comment:
Price has been consolidating for 4 months in an attempt to break out of the multi year resistance... heavy weight DII investor, Life Insurance Corporation has begun trimming its position from the march quarter, right at the resistance area... results being nothing short of spectacular, coupled with a superlative guidance of a 20% growth in bottomline (that too on a high base) and maintaining of operating margins for the year ahead leads me to believe that peak profit from gRevlimid is one more year ahead than this current fiscal and that the eight year resistance will break in the months ahead... I am holding on in these slow times for a good harvest soon