Gravita has formed rounding bottom and now it is in the process of breakout or it may form handle. In that case rounding bottom will become cup and handle pattern. So I applied fib levels. When the price crosses .382 which is above 90pts with high volume it will make the price to reach 130 and 160 in 1 to 2 yrs. Consult your financial manager before investing. Note : I have posted about Gravita in march and targets were done and the trade was closed.
Trade active
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Trade active
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Trade active
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Comment
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In 3 months target 1 done!
Trade active
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Trade closed: target reached
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Targets done!
Comments
padiyara
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My 2 cent:
GRAVITA (other metals: Engaged in manufacturing of plastics & nonferrous metals i.e. Aluminium and Lead over 24 years) now trading @77,
technically as you said, it looks in a better position, also expected to give good quarter& has been maintaining a healthy dividend payout of 25%.
But at 24 PE it looks over priced, the Stock is trading at 6.5 times its book value,
the company has delivered a poor growth of 11.2% over past five years.
& has a low return on equity of 11.5% for last 3 years. Lets hope for Good.
vanathi
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@padiyaraa, I agree with your view. After a long time seeing you commenting :)
padiyara
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@vanathi, I was busy lil bit busy.But I make my effort to find better opportunity every time.
see you again, with more attacking comments. ha ha
GRAVITA (other metals: Engaged in manufacturing of plastics & nonferrous metals i.e. Aluminium and Lead over 24 years) now trading @77,
technically as you said, it looks in a better position, also expected to give good quarter& has been maintaining a healthy dividend payout of 25%.
But at 24 PE it looks over priced, the Stock is trading at 6.5 times its book value,
the company has delivered a poor growth of 11.2% over past five years.
& has a low return on equity of 11.5% for last 3 years. Lets hope for Good.