- We have analyzed the price action of Glenmark since 2017 on a weekly TF.
- Given that the resistance has been tested multiple times, we as investors will expect it to be weak and a break will mean an up move.
- The fact that Glenmark has given a parabolic move of 63% makes it contradictory
- If you look at the PE ratio, The PE is up like a mountain making its valuation steep
- As they say, the stock market is a paradox. The signals will always contradict.
- I would personally wait for the break and see if the price sustains. I stay biased on red.
What are your thoughts? Feel free to comment. And, If it helped, Do Leave us a boost👍.
Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
- Given that the resistance has been tested multiple times, we as investors will expect it to be weak and a break will mean an up move.
- The fact that Glenmark has given a parabolic move of 63% makes it contradictory
- If you look at the PE ratio, The PE is up like a mountain making its valuation steep
- As they say, the stock market is a paradox. The signals will always contradict.
- I would personally wait for the break and see if the price sustains. I stay biased on red.
What are your thoughts? Feel free to comment. And, If it helped, Do Leave us a boost👍.
Disclaimer: Please note that we are not registered advisors and the views expressed here are solely personal opinions. We strongly recommend consulting with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
Comment:
We would not plan it as a long-term investment. The PE is worrisome. It may go up in the short term. We are okay with that. We always prefer a company with no foreseeable red flags.
