LINCOLN PHARMA..bull pennant LINCLON BULL FLAG OR PENNANT?
either side of triangle a good move is expected
LINCOLN trade ideas
Lincoln Pharma 5yr Breakout Inverted Head and ShoulderPharma sector is projected to do well in this month.
We can expect a good breakout in this scrip.
Watch out at breakout levels. Likely to shoot up quickly.
LINCOLN PHARMANote:
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Lincoln pharma forming channelLincoln pharma forming channel pattern in monthly chart ,consolidating now ,can give breakout soon
Breakout in Lincoln PharmaLincoln Pharma has been consolidating in the range for a long time. If it breaks out of the range and sustains the same it could give good return in the short term.
CMP - 258.7 (Needs to close above 265 on daily closing basis for a breakout)
Target - 275, 300, 320++
Lincoln Pharma - Symmetrical TriangleLincoln Pharma was in a triangular consolidation since September 2020. The triangle formation is a symmetrical triangle with descending resistance line and ascending support line. The price gave upward breakout to the resistance on a daily chart on 22nd April 2021 and closed at Rs.261. I anticipate the price target of Rs. 333 and stop loss at Rs.251 to be followed for the first four daily candles starting from 23rd April 2021. Thereafter the profit booking/ exit decision should be based on a downward crossover of 26 EMA by 5 EMA.
NOTE; This idea is an attempt the predict future price movement. Investment decision based on this idea, if any, shall be at the sole risk of the investor.
LINCOLN PHARMA - CMP: 261Lincoln Pharma has given a Wedge breakout on the daily chart. Also given rounding bottom breakout on smaller time frame. Delivery volume confirms the same. All oscillators are indicating a continuation of bullishness. We expect price movement till 270, 285 in the near term. Also, expect a target of 310 as a wedge pattern breakout target.
Lincoln Pharma Looks like it is under consolidation after a strong upmove.
Weekly close below 216 can be kept as SL for targets R1 R2 R3.
LINCOLN PHARMA HOURLY CHARTForming Higher high and Higher Lows on a hourly chart.
Each time it has come near the bottom of the channel it has moved up from there. It did breakout but couldnt sustain and we are again back to the bottom of the channel.
Till the channel bottom is respected we can expect another trip to the channel top. RSI has also cooled of considerably,
Near immediate support, strong support the next 30-50 days ~200Either it will return to its up move from here or it may touch 196.50 and then go up. There is a possibility that we will see a level of 214 on the first week of December 2020
