Divislab - Resistance broken! for NSE:DIVISLAB by vanathi

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Divislab is trending inside the channel and broken the resistance at the level 776 - 780. Closing above the resistance indicates the stock is gaining its strength. Divislab is buy above 786 with the stoploss of 780. Targets are 810, 820 and 830.

Trade active: @ 793 on 3/21/17

Comment: Bearish flag break out!

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about DIVISLAB 2

Comments

Why Divis has fallen so sharply. Any bad news. Any support is being formed to go long in April?

venkaticr

@venkaticr, Some negative news came that day. As per pattern it looks like bearish flag which i didnt notice.

God help someone that took this trade.

Parjun

@Parjun, Sheer bad luck that cannot be avoided. This seems to happen a lot with pharma stocks.

Parjun

@Parjun, Price trended along the lower trend line indicating most chances are towards downside. I dont believe in luck.

vanathi

@vanathi, If price was trending on the lower trend line and most chances were to the downside then why did you give a buy on it ? The whole post and chart should have been for a sell setup.

Parjun

@Parjun, Nobody should have entered trade I hope.

Learning, if any to be shared please.

anupam_ahuja

@anupam_ahuja, That companies related to USFDA should be traded very carefully for positional. The gaps can be killer.

anupam_ahuja

@anupam_ahuja, For me the chart looks like bearish flag.