Glenmark Pharma: A breakout! A keeper!Glenmark , just as my previous posts had a bullish divergence in the monthly chart! We were bullish since April end! The wait for a breakout happened this month and after a retest, It was a confirmed buy! Check out the charts, check out my last posts on motherson, infy , Dr reddy! They all had a similar setup! Now Glenmark has broken the Downward channel and this can be good in long term.
People who have missed it, you can enter on the retest of the channel.
So See If you are a trader on a daily timeline, and you have entered earlier this month on the breakout or the retest, you should book because of the excellent RR. But however if you are investing, This stock might get back into an uptrend and you can stick around for higher prices! It is a 5 wave channel breakout or if i can say breaking out and can form a new trend on the upside!
