Saturday, October 1

PharmaMar: There are signs that it could describe a pull back

As we can see in the PharmaMar graph, the value was trying to describe a double-bottom pattern, which according to analyst Ramón Bermejo has not yet validated, because it has not managed to close above the level of 56.10 euros. By the time we see 56.11 euros, we would have that validation of the double-minimum figure, with which it could recover up to 60.27 euros and the next resistance level is at 60.42 euros.

“A recovery of 7.71% and 7.95% is subject to the violation of this critical point,” explains the analyst.

The market is coming off a significant downward movement, as can be seen in the graph, and has reached the bottom of the channel, so “it would be within the possible that it tries to at least describe a pull back,” says Ramón Bermejo.

Right now, these are PharmaMar’s technical indicators (check them by clicking here)

PharmaMar Indicators

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