PHARMA (30/11/2020) consolidating in ascending triangleIn H4, the stock is forming price action in ascending triangle pattern. Currently is consolidating between 5.42 and 5.80. A good entry would be after it breakout from the triangle @ EP 5.86 with Support at 5.38. TP is at 6.73 and new 52WH 8.25 (Fibo 1.272) - RRR 1:1.8
EP 5.86
TP 6.73 / 8.25
SL 5.38
Stochastic shows a pullback signal, MACD didn’t signal any breakout, and RSI didn’t show any good momentum for entry now.
PHARMA is one of market leader in Pharmaceutical sector with competitive balanced float (21% of 1440M shares) compared to its sector competitor AHEALTH (23% of 1780M shares). However, current vaccine sentiment will definitely help PHARMA in the long run.
TAYOR
