GLENMARK has been moving in channels to what seems the accumulation on the weekly timezone.
After a week long ranging , it broke above the 50 FIB level Currently taking resistance at 618 FIB. .Awaiting a breakout / reversal on account of results.
A 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.
Stock 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.