Observations:
=>P&F charts has formed ascending triangle on daily chart
=>Stock is at multi-year High
=>Also wave count suggests the downtrend is over
=> MACD seems to be bullish
Marksans Pharma Ltd is inching up with high momentum with unusual volumes. High Momentum + Unusual volumes killer combination for swing trades.
"What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” - William O’Neil
Disclaimer: This idea has been posted strictly for educational purposes only and...
there is a MACD divergence... according to structure it will come down little but it also shoots from this point keep watching but not to forget to use a Stop loss.
Marksans Pharmaceuticals
Can exhibit a further up move or down move depending on further confirming price action at resistance line/ rounding bottom formation.
Fundamentally the stock is not in a bad position.
If price action breaks out in bullish manner, one can go long for medium to long term
