Natco pharma has been a big underperformer over the past many months. Attached chart shows GMMA… guppy multiple moving averages. Longer term moving avgs are marked in blue and shorter term moving avgs are marked in red.
Stock price seems took support at the historical support of 500-520 and is currently hovering and consolidating in the range of 550-580. On weekly chart, there has been positive divergence in past few weeks.
Fundamentally Revlimid windfall profits should start contributing to numbers over next few quarters, which could provide positive sentiments. Since it has been a big disappointment for investors, movement in stock price can be expected only once numbers are reported, or probably a few days before results…
On higher side, traditionally resistance has been in the range of 1000-1100.
disc: small token test position. Would add more if bullish formations occur.
