Natco Pharma - Channel Bottom
A stock thats going thru a large transformation and has faced a lot of headwinds over the last 1 year.
The worst for the stock could now be over.
Long at current price or as close to 650 as possible. 640 is the channel bottom and can be treated as a stoploss for this trade.
Beyond being at the channel bottom the stock also has a positive RSI divergence and could see a nice bounce from here.
So to sum it up..Long in parts between current price and 650 with a stoploss below 640/635.
The worst for the stock could now be over.
Long at current price or as close to 650 as possible. 640 is the channel bottom and can be treated as a stoploss for this trade.
Beyond being at the channel bottom the stock also has a positive RSI divergence and could see a nice bounce from here.
So to sum it up..Long in parts between current price and 650 with a stoploss below 640/635.
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