BIOCON: Powerful Breakout

28 nov 2017

BIOCON breakouts of yet another Ascending Triangle formation with support from rising volumes. The stock has been an out-performer and has been steadily holding unto an UP trend for sometime. A fine PINCH with the Bollinger Bands suggest a volatility contraction, and add to this fact that we did have an Inside Day formation couple of sessions back. The stock seems to be all set for a retest of its previous highs of 427 and then the 261.8% Fibonacci Extension at 460.