pharma sector should recover now.

cnx pharma touched the downtrend channel support and reversed. It is giving bounce back, but overall trend is down.

Yorum:

Another version of channel,

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regular bullish divergence seen in daily.

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closed at 8902.05

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moving up as expected 9071.70

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till now 9140.

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till now 9270.

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In daily, price closed above upper bb on Thursday, and bb is expanding, sign of bullishness.

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Here is the weekly followup chart

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bounced from trendline support, it should now move towards the channel resistance.

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price moving up smartly, after bouncing from trend line support. till now 9477.75.

İşlem kapandı: hedefe ulaştı:

price finally reached the channel resistance, cheers,

Yorum:

cmp - 8966.30, price cam down from the channel resistance took horizontal support at previous low, then started moving up,

looks like long term reversal is in progress.

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cmp - 8445.70, in weekly, horizontal support turned to resistance , also price unable to break 20 SMA. looks bearish