SMS Pharmaceuticals Limited
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SMS PHARMA - Cup & Handle Breakout with Volume Confirmation

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๐Ÿ“Š SMS PHARMA โ€“ Cup & Handle Breakout with Volume Confirmation
๐Ÿ•ฐ๏ธ Timeframe: 1D | ๐Ÿ“ Pattern: Cup & Handle Formation

๐Ÿ” Technical Setup:
SMS Pharma has formed a classic Cup & Handle pattern, which is a bullish continuation pattern. The breakout has occurred above the neckline resistance with a clean breakout candle, confirming bullish momentum.

The falling trendline resistance has also been decisively broken, adding further confidence to the breakout strength.

๐Ÿ”‘ Key Levels to Watch:
๐Ÿ”ต Resistance (Upside Targets):
โ‚น258.05
โ‚น271.70

๐Ÿ”ด Support Zones:
โ‚น230.57 (neckline support)
โ‚น211.77 (handle base)
โ‚น181.95 (major horizontal support zone)

๐Ÿ“Š Volume & Indicators:
๐Ÿ”บ Volume Surge at breakout confirms strength and participation โ€” a good sign for trend continuation.
๐Ÿ“ˆ RSI: 64.58 โ€” close to overbought zone, but still indicating strength. Minor consolidation near โ‚น240 would be healthy before further up move.

๐Ÿง  Bias: Bullish
๐Ÿ“‰ Any pullback to โ‚น230โ€“โ‚น235 can offer a good entry opportunity with risk managed below โ‚น211.

โš ๏ธ Disclaimer: This is an educational analysis and not investment advice. Do your own research before making any trading decisions.

๐Ÿ“ˆ Follow PriceAction_Pulse for more breakout setups and swing trading ideas!
๐Ÿ’ฌ Drop your thoughts in the comments โ€” will this Cup & Handle breakout hit the โ‚น270 zone?
Dagangan ditutup: sasaran tercapai
The first resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the second resistance level.

Penafian

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