CONFIDENCE PETRO IND LTD.Updated CONFIPET BO [Weekly]
CONFIPET breaking out of a long weekly base with volumes, with 2 trading days left in the week, volumes should attract more attention.
Last 4 quarters, Sales and EPS growth has been good. Number of funds holding this stock has also increased in past 2 quarters. All good signs, Keep an eye out for this.
Last 4 quarters, Sales and EPS growth has been good. Number of funds holding this stock has also increased in past 2 quarters. All good signs, Keep an eye out for this.
Note
Feels like a shakeout is in play here. Would be interesting to see if it takes support at 21 DMA or before breaking the swing low.Note
Trying again for a BO post shakeout. volumes are not very encouraging on a weekly level, but on daily there has been some volatility. One can try entering with a SL of 87 if one is interested but seeing this volatility I'll be hesitant to bet here.
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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.