Strides Pharma Science Ltd. | Momentum Play | Technical Analysis
Strides Pharma Science Ltd. has been in a loss-making phase for the past four years, with losses gradually decreasing since 2021. However, the stock has shown a remarkable upward rally since March 2023, closely following the 20 EMA (Exponential Moving Average).
This stock is purely driven by technical momentum rather than strong fundamentals, making it a higher-risk trade. The consistent rally and adherence to the 20 EMA make it an attractive opportunity for short-term momentum traders.
I recommend waiting for confirmation of support before entering. My strategy involves making entries after a long sideways consolidation, followed by a minimum of three bounces off the 20 EMA line, which signals sustained momentum.
Avoid entering due to FOMO (Fear of Missing Out). If the current rally is too advanced, it’s better to look for other opportunities where the rally is just building up and offering better entry points.
Caution: Since this stock lacks fundamental strength, strict risk management is crucial.
This stock is purely driven by technical momentum rather than strong fundamentals, making it a higher-risk trade. The consistent rally and adherence to the 20 EMA make it an attractive opportunity for short-term momentum traders.
I recommend waiting for confirmation of support before entering. My strategy involves making entries after a long sideways consolidation, followed by a minimum of three bounces off the 20 EMA line, which signals sustained momentum.
Avoid entering due to FOMO (Fear of Missing Out). If the current rally is too advanced, it’s better to look for other opportunities where the rally is just building up and offering better entry points.
Caution: Since this stock lacks fundamental strength, strict risk management is crucial.
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