Divis Laboratories Share Price - Strong Support At 200 DMA


market sentiment for the pharma stock is certainly bullish. The company’s Telengana unit had successfully passed a USFDA inspection in the month of May. Although it was one of the routine inspections by the US Food and Drug Administration, it concluded with positive observations of the company’s operating standards.


Bullish Out Look –RSI Positive Divergence
The stock has clearly indicated a Positive divergence in the hourly timeframe. In today’s trade, Divis Laboratories has made a high of 1072. Price action has clearly indicated a sharp bounce back sharply in the last two trading sessions from 200 DMA (1014 approx). Currently Divis Laboratories has taken support of its 5 DMA (1050 approx). The pharma share is likely to face its next resistance around its 15 DMA (1086 approx). Divis Lab share price will see a breakout if it trades above its 20 DMA (1108 approx), thereafter it will see a strong rally till its 50 DMA (1140 approx). However if the share price breaks and trades below its 5 DMA (1045 approx), then it will find its next support around its lower Bollinger band (1005 approx).
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Divis Laboratories share price was recently in the news for all the good reasons. The current market sentiment for the pharma stock is certainly bullish. The company’s Telengana unit had successfully passed a USFDA inspection in the month of May. Although it was one of the routine inspections by the US Food and Drug Administration, it concluded with positive observations of the company’s operating standards.


Bullish Out Look –RSI Positive Divergence
The stock has clearly indicated a Positive divergence in the hourly timeframe. In today’s trade, Divis Laboratories has made a high of 1072. Price action has clearly indicated a sharp bounce back sharply in the last two trading sessions from 200 DMA (1014 approx). Currently Divis Laboratories has taken support of its 5 DMA (1050 approx). The pharma share is likely to face its next resistance around its 15 DMA (1086 approx). Divis Lab share price will see a breakout if it trades above its 20 DMA (1108 approx), thereafter it will see a strong rally till its 50 DMA (1140 approx). However if the share price breaks and trades below its 5 DMA (1045 approx), then it will find its next support around its lower Bollinger band (1005 approx).
 
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