ACTION CONSTRUCTION TGT 1695-1740-1890 SL BELOW 1256 POSITIONAL
Action Construction Equipment Ltd. is an interesting chart with following
FUNDAMENTALS:
Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 24.9% CAGR over last 5 years
Debtor days have improved from 45.9 to 28.6 days.
caution: Promoter holding has decreased over last 3 years: -3.29%
TECHNICALS.
1. RSI on all time frames (DWM) above 60
2. Stock Strongly outperforming Benchmark index and sectoral index
3. Both SRS and ARS above zero
4. Close within 52 Week High Zone
5. Stock making higher highs for last 3 consecutive trading days
6. Higher Trader and Delivery quantity this week
7. ABCD pattern under formation on weekly chart
8. Narrowing Bollinger Bands on daily chart
9. Price crossed above and is taking support at 20 SMA on daily chart
can be a good risk reward to buy and buy on dips with stop loss below 20 SMA for an immediate resistance at 1695 being ATH zone and thereafter for a Blue Sky zone as per one's own risk reward matrix
Lets See How it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
FUNDAMENTALS:
Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 24.9% CAGR over last 5 years
Debtor days have improved from 45.9 to 28.6 days.
caution: Promoter holding has decreased over last 3 years: -3.29%
TECHNICALS.
1. RSI on all time frames (DWM) above 60
2. Stock Strongly outperforming Benchmark index and sectoral index
3. Both SRS and ARS above zero
4. Close within 52 Week High Zone
5. Stock making higher highs for last 3 consecutive trading days
6. Higher Trader and Delivery quantity this week
7. ABCD pattern under formation on weekly chart
8. Narrowing Bollinger Bands on daily chart
9. Price crossed above and is taking support at 20 SMA on daily chart
can be a good risk reward to buy and buy on dips with stop loss below 20 SMA for an immediate resistance at 1695 being ATH zone and thereafter for a Blue Sky zone as per one's own risk reward matrix
Lets See How it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Disclaimer
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