Divis Lab: A Pharm-azing Investment Opportunity
Incorporated in 1990, Divis Laboratories is among the top pharmaceutical companies in India. It specializes in the manufacture and sale of active pharmaceutical ingredients (APIs) in the Indian and international markets. Ranked by market capitalization, it’s the fourth-largest publicly listed pharmaceutical company in India. But should this pharma stock be on your radar? Let’s look at the charts to find out. Monthly: Trendline For the past 20 years, the stock has been in a bullish trend. Moreover, after every correction it has held onto this trendline support. Although it has fallen to the trendline support, the most recent correction has certainly brought it closer to the trendline. Weekly: Price Action We have established that the stock has been in an overall positive trend since the very beginning. Plus, after every significant correction, it has shown a pattern of rebounding and continuing the upward trajectory. It is displaying the same behaviour after the most recent 1.4 ...