From swing high to low, price is at 38% fib retracement and at 200 dma, buy within range of 299.60 to 281.05 for Target 453.70
will it test 310 before its next up move?
The production of Sputnik V, the COVID-19 vaccine granted emergency use authorisation, has been launched in India, said a joint statement issued by Russian Direct Investment Fund (RDIF) and pharmaceutical firm Panacea Biotec on May 24 I have came across this Ascending triangle, waiting for breakout !
Now that more good news is coming in the stock, this stock could make a new ATH. Long above 380. Buy only that much to keep atleast a 10% SL so size your allocation accordingly.
What a beautiful breakout. Look at the towering volume candles in the last 4 weeks. Already tested the breakout area on Daily candle. 2000cr Market cap, Vaccine story. Great order book. Good for 20% return in a couple of weeks. Could potentially double in the next couple of months.
PANACEABIO (MONTHLY):- Multiyear Breakout done looks good for 500/600++ Target with 200 WCB Stop loss
panacea biotech can be bought for long term but might face resistance in a day or 2 for intraday sell option
Panacea Biotech has given CUP & Handle breakout in weekly time frame. Handle breakout with High Volume , RSI above 60 should definitely rising high. T1-350 T2-435 Fundamental: Although pharma is in loss for couple of qtr but Russian Direct Investment Fund (RDIF) to have contract for the manufacturing of Sputnik V vaccine,expected production in next 1~2...
Just look at the volumes since its IPO. Tremendous participation can easily be seen. And look at the bullishness of the last monthly candle (though candle not completed but still even a 10% of a fall wouldn't lower down its bullishness). Long term people, notice it. I can say with extremely high conviction, it will break that above TL.
On the daily technical chart, the stock is rocking in the Performance area. It is suitable for very short term trades as it doesn't have healthy fundamentals so not recommended for long term investment or Positional Trading.
The weekly resistance of 263-265 break done and maked high of 284 good for short term, and also have the news regarding sputnik v vaccine production
panacebio chart analysis for intrday and swing trading
According to many experts Panacea is among the leading fillers of vaccines in our country.In the past they have had a bad time w debt etc but their turnaround might be just around the corner. Rumour has it Dr. Reddy's will utilise them for filling of the Sputnik V for India and the rest of the world which could be a major major opportunity over the next 12 months...
Breakout retest done. Valuations and fundamentals are fine, some news triggers too
Bonus Call for Friday 18th of September 2020 // This is a swing trade call and not an intra-day trade // NSE:PANACEABIO CMP / LTP: 213.55 IDEAL BUYING RANGE*: 205-220 TARGET: 260+ (20% Around) STOP LOSS: 192 (10-12 % Max) DURATION: In 15-20 Trading Sessions Target should be achieved Notes: - *IDEAL BUYING RANGE: This is the pricing range if the stock...
The price has already broke upwards and is also supported by heavy volume which will push the price higher in coming days. Price is trading above the 50 days Moving Average. Targets on the chart and may see a high of 250-260 Disclaimer : The opinions and analysis expressed herein are for informational and educational purposes only and should not be considered as...
I hope you can now see how PANACEABIO represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that...