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 Limited (LPL) is engaged in the business of manufacturing, marketing and distribution of pharmaceutical products. The Company operates through the Pharmaceuticals Products segment. The Company offers products, such as tablets, capsules, liquid injection, cream in tubes, dry power injection, liquid in bott, liquid injection and pharma products. It has operations in cardiac, diabetic, anti-malarial, anti-biotics, cephalosporins, analgesic, antipyretics, vitamin-minerals and iron preparations, among others. Its geographical segments include Domestic Sales and Export Sales. Its products include Tinnex, which is a medication for treating cochlear synaptic tinnitus; Pa 12 Proglet, which is a 1000 milligram programmed released paracetamol that is developed to offer control of pain and fever, and ARH 1, which is an anti-malarial drug that is formulated utilizing technology known as dose optimization technology.
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LINCOLN
