Dr reddy ready for new highsIt’s forming a bullish pennant pattern !! Pharma is the palace & dr reddy is the king !!
Drreddytrend
DRREDDY - Hammer at 21 EMANote: This is for educational purpose only.
There seems to be a hammer at 21 EMA which acts as dynamic support. The 21 EMA has acted as a dynamic support before as well. RSI above 60 indicates which indicates bullish momentum. This is on hourly chart. Moreover, 21 EMA is above 55 EMA which indicates short term up trend.
Drreddy - Super bullish, 200 points, 2 days.Price as discussed earlier ( see related ideas link) took pattern support and breaks the pattern. In a 2 days time price almost moved 200 points which is a super bullish movement for the script.
All one has to do is buy a stock at support after drawing a perfect pattern.
Reaching the top, as expected.Expecting the price to walk through the lines lets see :)
Price definitely going to the top of the triangle to face the rejection. will come back to the trend line to take support and once again faces the resistance at the top and break hopefully.
