EID Parry: Detailed Chart Analysis Points to Support
In this analysis, we will delve into the chart of EID Parry and evaluate key indicators and factors to provide insights into the stock's current situation. Notably, we will explore the presence of a weekly support trendline, weekly RSI support, a potential buying opportunity at the current CMP with a stop loss at 425, a target of 520, the presence of a daily harmonic pattern called "Black Swan," the average broker target of 638, the price to book ratio of 0.8, the PE ratio of 8.5, and the stock trading below the 200 EMA.
Analysis:
The chart analysis of EID Parry reveals several important aspects. The stock is currently trading around a significant weekly support trendline, indicating potential support for the stock's price. Additionally, the weekly RSI is showing support, suggesting sustained buying interest at these levels.
Based on the chart, there is a potential buying opportunity at the current CMP. If one decides to buy the stock, a stop loss at 425 can be implemented to manage risk effectively. The target for the trade is set at 520, indicating potential upside in the stock.
Furthermore, there is a daily harmonic pattern known as "Black Swan" observed on the chart. Harmonic patterns can signal potential reversals or significant price movements, adding to the bullish sentiment for the stock.
The average broker target of 638 indicates positive sentiment among analysts, suggesting further potential upside.
Considering the valuation ratios, the price to book ratio of 0.8 and the PE ratio of 8.5 indicate that the stock is trading at a relatively lower valuation compared to its book value and earnings. This may present an opportunity for value investors.
However, it is worth noting that the stock is currently trading below the 200 EMA, which suggests a negative sentiment for the stock.
Conclusion:
In conclusion, the detailed analysis of EID Parry's chart reveals several positive aspects. The stock is trading around a significant weekly support trendline, with the weekly RSI showing support. The presence of the harmonic pattern "Black Swan" and the average broker target indicate potential upside in the stock. Additionally, the stock's valuation ratios suggest a relatively lower valuation. However, the stock is trading below the 200 EMA, which should be considered as a negative factor.
As always, it is essential to conduct thorough research, consider your risk tolerance and investment strategy, and consult with a financial advisor before making any investment decisions.
Analysis:
The chart analysis of EID Parry reveals several important aspects. The stock is currently trading around a significant weekly support trendline, indicating potential support for the stock's price. Additionally, the weekly RSI is showing support, suggesting sustained buying interest at these levels.
Based on the chart, there is a potential buying opportunity at the current CMP. If one decides to buy the stock, a stop loss at 425 can be implemented to manage risk effectively. The target for the trade is set at 520, indicating potential upside in the stock.
Furthermore, there is a daily harmonic pattern known as "Black Swan" observed on the chart. Harmonic patterns can signal potential reversals or significant price movements, adding to the bullish sentiment for the stock.
The average broker target of 638 indicates positive sentiment among analysts, suggesting further potential upside.
Considering the valuation ratios, the price to book ratio of 0.8 and the PE ratio of 8.5 indicate that the stock is trading at a relatively lower valuation compared to its book value and earnings. This may present an opportunity for value investors.
However, it is worth noting that the stock is currently trading below the 200 EMA, which suggests a negative sentiment for the stock.
Conclusion:
In conclusion, the detailed analysis of EID Parry's chart reveals several positive aspects. The stock is trading around a significant weekly support trendline, with the weekly RSI showing support. The presence of the harmonic pattern "Black Swan" and the average broker target indicate potential upside in the stock. Additionally, the stock's valuation ratios suggest a relatively lower valuation. However, the stock is trading below the 200 EMA, which should be considered as a negative factor.
As always, it is essential to conduct thorough research, consider your risk tolerance and investment strategy, and consult with a financial advisor before making any investment decisions.
Trade closed: target reached:
Made a high of 572