The Pharma Bull

Mukul Pal ·


There are many ways to look at a multi year bull market. One way is to look at the defensive sector like pharmaceuticals. How the defensive sector should perform can suggest if we are in a sustainable multi year positivity or not.
Though both ATB and BIO are overstretched on multi week RSI momentum, on Rieki performance cycles both of the stocks are emerging out from worst ranking performance. This means that even if the markets fall from here (preferred scenario) pharma majors should hold supports well and should outperform the market.
Above this the structure on the pharma majors look like an ongoing corrective countertrend that should continue to move sideways for a few weeks or a month or two before resolving higher to new highs. This suggests that the large bull market case for Romania is intact and falls should be used to accumulate these two blue chips and other value picks.
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