Gennex Labs - Penny Stock - Buying Opportunity
Been tracking this pharma company since 2014 when it was trading at levels around Re.1
Since it being a penny stock it is difficult to apply technical analysis due to variety of reasons.
However, the yearly support trendline is now making sense and provides an opportunity to buy it at current levels.
Does it have a potential to be a multibagger - Who knows ? But currently there is a trading opportunity that i believe is worth the risk.
Trade Strategy :
Buy : 6.35
Target : 11.35
Stop Loss : 3.90
Risk to Reward - 2:1
Trade Safe !!!
Since it being a penny stock it is difficult to apply technical analysis due to variety of reasons.
However, the yearly support trendline is now making sense and provides an opportunity to buy it at current levels.
Does it have a potential to be a multibagger - Who knows ? But currently there is a trading opportunity that i believe is worth the risk.
Trade Strategy :
Buy : 6.35
Target : 11.35
Stop Loss : 3.90
Risk to Reward - 2:1
Trade Safe !!!
Trade closed: stop reached