Lincoln Pharma made a giant leap yesterday to cross two resistance levels and is now likely to cross next ascending 1/1 angle at 268.50 by Monday or little later. If it does so and remains bullish, we may see a level of 350 in intermediate term. Present support is at 227.50 and once and when it crosses 266/ 267, this will again become a support.
-Pharma sector seeing some strong momentum.
-Lincoln Pharma broke through a resistance.
-Fundamentally strong company.
-The stock broke out of a bullish pennant today.
-Breakout on high volume.
-Stock also broke out of inverted H&S and cup & handle patterns on weekly charts.
-Can see the stock going to around 340 from here.
Not an investment advice, do your...
As can be seen the price is trading above the cloud after the recent up move, and is stronger than the index. However being in ASM can be a drag. It is suggested to be added on dips.
Lincoln Pharmaceuticals Ltd. is a holding company, which engages in the manufacture and sale of pharmaceutical products. It focuses on different sectors such as cardiac, diabetic, anti-malarial, anti-biotic, anti-fungal, cephalosporin's, analgesic, and iron preparations. The company was founded in 1979 and is headquartered in Ahmedabad, India.
LINCOLN
