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BullishLine
Aug 16, 2023 9:13 AM

A remarkable breakout in Escorts Kubotaย Long

ESCORTS KUBOTA LTDNSE

Description

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Welcome back! This time, we will analyze our third breakout stock, which is Escorts Kubota.

Chart is Pretty self-Explanatory so we are going keep it short. Here are some pointers.

>>Escorts has spent the past two years consolidating within a bullish parallel channel.

>>Today, it experienced a notable breakout, suggesting potential for a substantial upward movement.

>> In terms of fundamentals, the company is achieving its highest-ever sales and profits.

>>Also the promoters have doubled their holdings, and both FII and DII participation is increasing. These factors point to a promising outlook for this stock.

Entry & Targets-
>>If this breakout candle sustains above the line quite well in the 1-day time frame, we can consider purchasing this stock.

>>We will place our stop loss below the breakout candle at the 2500 level.

>>Considering the promising growth, we can take a long position in this stock.

Do consider pressing the boost button๐Ÿš€๐Ÿš€, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section.

Please note I am not SEBI registered. Do your own research before investing.

Comment

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Slowly but surely, the stock has begun to sustain its bullish trend, Approving its breakout. While a retracement could be a favorable opportunity for accumulation, at least for now, it doesn't seem inclined to pull back.
Comments
chanikyaca857
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Hi sir which tool do you use to find out breakout stocks
BullishLine
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@chanikyaca857, thank you for your valuable comment. I find breakout stocks manually.
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