Pharmamar soars in the stock market and reaches optimistic targets

Pharmamar closed yesterday’s session on Tuesday, October 15, overvalued by 32% following encouraging results in its lung cancer treatment. In this sense, at the end of August we published an important article about investment strategies on the website the positive evolution we expected from the company based on the technical aspect that was being recorded.

PharmaMar (PHM) on a weekly scale with volatility (upper center window), MACD (lower center window) and trading volume (lower window). Source: ProRealTime and own development.

On a weekly scale chart PharmaMar (PHM), we can observe this A few weeks before the confirmation of catalysts published in yesterday’s session, the price of Pharmamar activated two important bullish targets: Thus, a potential change in the price trend was registered even before yesterday’s important session.

In this sense, the first of the two bullish targets published at the end of August has already been achieved by the price, so that after the completion of the accumulation pattern on the chart and the bullish implications in the form of an inverted shoulder head (HCi), We continue to work towards a second bullish target of around EUR 80 per share after breaking through an important bearish channel.

The weekly MACD oscillator is accompanying a positive price evolution, the downside is activated and is still far from overbought levels, so we continue to propose as the most likely scenario that the company’s price will continue the process of revaluation in the coming weeks. .

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