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rbasker

VCP Formation on the verge of a BO around Earnings announcement

AUROBINDO PHARMA (NSE:AUROPHARMA)  
rbasker Updated   
NSE:AUROPHARMA   AUROBINDO PHARMA
Chart Patterns aurobindopharma Symmetrical Triangle VCP
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chartpattern aurobindopharma symmetricaltriangle vcp
Stock is forming a nice VCP around it's ATH.. Volume is visibly dried out and the stock is forming a nice symmetrical triangle. Ideal candidate for a breakout but it's better to wait for the breakout to happen as the stock can breakout on either direction.
Comment:
Breakout happened on the downside. Hence, it's always better to wait for the breakout and then trade rather than taking a trade in anticipation of a move in a particular direction.
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