The company is fundamentally very strong with sales and profit growth, since past one year stock has given a phenomenon return of more than 300%.
But from past 6 month, stock was consolidating & range bound between 300 to 370 and Currently bouncing from 50% in fib retranchement with positive RSI.
If you seen a longer time frame, stock never voilated 20 EMA and taking support at key level.
The company valuation is reasonable and stock available at 16 P/E multilple, it will be a great long investment bet.
Trading Idea: Entry at current level with Stop Loss of 10%
As stock has already given 20% return from support level, further expected return will be 25-30%.
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.