GLENMARK BuyPharma stocks have been doing ok for some time now.
Considering the fact that they were coming from dead, there was still a lot of skepticism around though.
Today pharma had a break out day that should covert the non-believers.
While the likes of DIVISLAB and AUROPHARMA has a day in the Sun, there are better bets out there.
GLENMARK here has just broken out and will sure see much follow though as it has been a relative laggard so far.
50 points should be given to 700 level in short term. Long term investors can get in too! Excellent levels for fresh longs.
Happy trading.
GLENMARK
Glenmark: The Potential Inverted Head and ShouldersA move below 591 before the neckline breakout will negate the pattern.
Pattern will be in action above the neckline.
I Will be looking for breakout: pullback-retest-reversal (PRR) type entry..see post below to read on trading confirmations.
Also see..
For targets, one can try traditional as well as contemporary approaches..see post below on H&S pattern.
Do Hit like and comment.
Trade safe, be healthy.
Regards
Bravetotrade
Glenmark: In Strong DowntrendStock is in a strong downtrend; had a fresh breakdown @ 592. Last closing @ 580.25; selling opportunity can be found either on pullback to 592 or on break below 576.
For this trade targets on the downside will be 555 and 536 -- where the stock may find some support.
Trade safe, stay healthy.
Hit like/comment if this information is useful.
Regards
Bravetotrade