Stock Radar: Biocon stock price breaks out from upper band of a Symmetrical Triangle; should you buy?
Synopsis
Biocon Ltd has broken out of the Symmetrical Triangle formation on daily charts, suggesting a potential rise in stock price. Experts advise short-term traders to buy the stock for a target of Rs 403-436. The stock recently reclaimed crucial moving averages and is currently trading above most short- and long-term moving averages, indicating a bullish trend.
Biocon Ltd, part of the pharma space, broke out from the upper band of the Symmetrical Triangle formation on the daily charts which has opened room for the stock to head higher.Short term…
