Zydus Wellness, ever since it made the All Time High, the stock was in a downtrend and then sideways for more than a year. Though it tried to breakout a key resistance level (as marked) multiple times, it could not breach the resistance zone. Today, it brokeout of the resistance zone with huge volume burst. The next few days of the stock moves in a positive direction, then it may reach 2335 levels which could be the first target.
Checking the weekly timeframe, we can see an inverted H&S pattern and without today's breakout, the stock has broken out of the H&S neckline. If we consider H&S pattern breakout, then the stock may reach new ATHs.
Checking the weekly timeframe, we can see an inverted H&S pattern and without today's breakout, the stock has broken out of the H&S neckline. If we consider H&S pattern breakout, then the stock may reach new ATHs.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.