#LONG on MARKSANS PHARMA; Broke out Multi-year ascending channel
Updated
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
Note
Ready for some momentum!Note
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.
Note
Target 1 approaching...Note
Target 1 achieved on 28 Aug '24 !!
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