#LONG on MARKSANS PHARMA; Broke out Multi-year ascending channel
MARKSANS was trading within an ascending channel since Nov '2005.
It broke out from the channel in the ongoing month of Nov '23 forming a large bullish candle on a monthly time frame, rising approximately 51%.
The Stock rose nearly 11.88% today hitting an All Time High of 165.
It broke out from the channel in the ongoing month of Nov '23 forming a large bullish candle on a monthly time frame, rising approximately 51%.
The Stock rose nearly 11.88% today hitting an All Time High of 165.
Trade active
Comment:
Ready for some momentum!
Comment:
strong performance in FY24 in terms of both revenue and profitability.However, the stock has run up more than 100% in last one year. Today's correction indicates results did not meat market expectations of growth.
Good bet for long term, but it may face correction of about 15-20% in short term.
Good bet for long term, but it may face correction of about 15-20% in short term.