Lincoln Pharma - Symmetrical Triangle

2021年4月23日

Lincoln 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.