Chart Idea – Themis Medicare
Themis Medicare is engaged in research-based pharmaceutical work specializing in the manufacture of a wide range of products for the application of Pain Management, Critical Care, and Anti-Infectives. The company developed high response differentiated products. On the technical front, Themis Medicare is extending its winning streak.
Pharma and Healthcare are on the rise so far this year amid the Covid-19 hits the whole world. Immediate and long term trend are bullish in this counter, it is breaking out from a two-month-long symmetrical triangle formation on the weekly chart. Stock is currently trading with higher tops and higher bottoms pattern formation on the daily chart as well as on the weekly chart this is a bullish pattern in nature.
A bullish RSI and MACD buy signal has emerged on the weekly chart and a closed above its 100 EMA and with the positive indication from the oscillators.
We expect the stock to accumulate between the range of 400—450 with a stop loss of 300 on a closing basis for the target price of 550—650 in the weeks to come.
Themis Medicare Update
Stock hit our 2nd target of 650++. Book full profit of more than 200 points Enjoy gain of 44%++ in less than a month time frame.
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