Long Position. This is a technical analysis.
High Volume
Financials:
1. Company has reduced debt and is almost debt free.
News:
Recently in news for indigeneous Dengue vaccine trials.
This is for Educational purposes only. Investing decisions should be made wisely and not emotionally as per your own risk.
firm business pharma tycoon well known pharmaceutical brand, have started following uptrend after long time buy now with stoploss of trndline. and buy aggressively after it closes above 175
now have also formed bullish engulfing above trendline
Stock has given strong BO on daily, weekly and monthly chart with massive volume spike, risk reward is favourable. Follow chart for proper support and resistance levels.
Support and resistance levels: The key support levels are 107.81 The key resistance levels are 134.5.
stock has crossed the 50 day moving average on weekly chart.
first target 178.78 then we will move forward.
Disclaimer:
This is not investment advice. Please do your own research before making any investment decisions
PANACEABIO is trading in the range for the past couple of months and breakout by 18% today with huge volumes.
The reason for this is due to " $127.3 million orders from UNICEF and PAHO for the supply of its WHO pre-qualified fully liquid Pentavalent vaccine"
With this movement, Trend Ch +ve.
Close Crossing 4-week High
Crossed Monthly Pivot upside
Close is...
Panacea Biotech Limited is touching monthly channel bottom.
Ideal holding period - 1-2.5 years
Projected gains = 200% - 225%
Stoploss on closing for 2 months below the channel.
** Material only for reference. Assess your risk before entering any positions.
With the 1st target at 428 ie 100 points from the current market price,We can see a minimum return of 30%
And the stop loss at 323.50
Breakout before 1st September
RSI and MACD levels are bullish on the stock
![PANACEABIO: Panacea biotech[short term breakout]](https://s3.tradingview.com/g/g73xDyVX_mid.png "Panacea biotech[short term breakout]")
