APOLLO TYRES: Bullish Peannant Upside 20%
Stock is in an uptrend for the last 2 months moving with 0.3-0.5 fib retracement. Now pennant is been formed for the next bull run with 20% return in between next 2-3 months if broke the current higher high.
Points to be Note (Technical + Fundamental)
1. Pennant Structure
2. In up-trend for last 2 months
3. Fib levels are 0.3-0.5 & Relative strength restest the positive level. For now, you have to just look at the breakout.
4. Above Critical demand zone
5. P/BV ratio is highly above 1
6. P/E is considerable to Industry standards (double)
7. Net profit is significantly increased
8. Reserves are increased by 15%
9. Promoters have diluted their shares
10. For sure Apollo will hit the 20% up. As their peer, the JK tires is in bull run form last 6 straight sessions
7. ROCE is affected but above YOY 2020 is 10%
Let me know in the comments what's your views?
Points to be Note (Technical + Fundamental)
1. Pennant Structure
2. In up-trend for last 2 months
3. Fib levels are 0.3-0.5 & Relative strength restest the positive level. For now, you have to just look at the breakout.
4. Above Critical demand zone
5. P/BV ratio is highly above 1
6. P/E is considerable to Industry standards (double)
7. Net profit is significantly increased
8. Reserves are increased by 15%
9. Promoters have diluted their shares
10. For sure Apollo will hit the 20% up. As their peer, the JK tires is in bull run form last 6 straight sessions
7. ROCE is affected but above YOY 2020 is 10%
Let me know in the comments what's your views?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.