Aurobindo Pharma may retest its high of 1016 soon.
After the positive news of Pzifer signing an agreement with Aurobindo Pharma for its Covid-19, the stock markets clearly gave a positive reaction. A 2.70% (26points) gain in a sudden 30mins. ATH of 1016 is still intact.
Looking at the price action, momentum still looks right and intact.
Accumulation happening during the retracement of 0.618.
*MACD showing us a 3 bullish hook pattern (Signal Line crossing up the MACD line) indicates that the buying pressure is still intact.
Might as well easily the break the resistance and ATH of 1016.
We might witness targets of 1.272 Fibonacci i.e. 1046 levels.
Strict SL of 963.
Keep trailing your SL.
Looking at the price action, momentum still looks right and intact.
Accumulation happening during the retracement of 0.618.
*MACD showing us a 3 bullish hook pattern (Signal Line crossing up the MACD line) indicates that the buying pressure is still intact.
Might as well easily the break the resistance and ATH of 1016.
We might witness targets of 1.272 Fibonacci i.e. 1046 levels.
Strict SL of 963.
Keep trailing your SL.
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