Structure marked on this stock for short term, in a nice uptrend after correcting for a long time. Also included is a little nested wedge pattern from which the price broke out for a sharp spike up at 2PM today.
The stock was in corrective mode while all other pharma names were making new highs. It gave good Q1 results. 2 new plants are getting operational soon which should provide operational leverage. Very positive for long term. In terms of technicals, it gave strong BO from its falling trend channel and is now making higher highs. With the RSI also trending higher,...
Gave strong BO from its trend channel lines and now taking support at 32% retracement of wave 3 high. Currently, in minor wave ii of 5. Rising gold prices will provide more fuel to its rally. No divergences.
Looking for target of 172 and more.
traders by looking at chart it clearly shows a nice down trend probably market will choose a bearish move just hope for this will keep you updated with trade levels just waiting for this weekly candle to close
