A LOW RISK - MULTI-BAGGER - PENNY STCK AT BOTTOM?? Techno Funda
Weekend Educational Idea: Indian Overseas Bank // FIBONACCI AND 8 EMA Band Combo
I have been tracking this stock for quite some time now and today finally it has given me a Techno-Funda Buy Signal on my Algos. This makes me post this Educational Idea.
I don't recommend to buy penny stocks just because of their ticket size, but looking at the charts indicators and the basic fundamental analysis of the stock, this particular scrip can propel to the higher levels pretty fast and makes a perfect candidate for swing trading and short term trading.
Moreover the Risk Reward is excellent (1:3), which I consider as the most important parameter in a trade and investment.
At this moment, this is purely an EDUCATION IDEA and NOT A BUYING RECOMMENDATION. In coming days I will post more precise Targets and Stop Loss for recommending firm trades.
Traders who love to invest / trade in penny stocks, can take paper trade or trade with small capital (1% of your trading capital) to learn the technique.
EDUCATIONAL / PAPER TRADE:
Call for Monday August 24th 2020 // This is a swing trade call and not an intra-day trade //
NSE:
IOB
CMP / LTP: 11.7
IDEAL BUYING RANGE*: 11-12
1st TARGET: 13+ (10% Around) In 5-10 Trading Sessions // 2nd TARGET: 17+ (45%) In Short Term 3-4 Months
STOP LOSS: 9.9 (15 % Max)
HAPPY TRADING AND INVESTING!!
I have been tracking this stock for quite some time now and today finally it has given me a Techno-Funda Buy Signal on my Algos. This makes me post this Educational Idea.
I don't recommend to buy penny stocks just because of their ticket size, but looking at the charts indicators and the basic fundamental analysis of the stock, this particular scrip can propel to the higher levels pretty fast and makes a perfect candidate for swing trading and short term trading.
Moreover the Risk Reward is excellent (1:3), which I consider as the most important parameter in a trade and investment.
At this moment, this is purely an EDUCATION IDEA and NOT A BUYING RECOMMENDATION. In coming days I will post more precise Targets and Stop Loss for recommending firm trades.
Traders who love to invest / trade in penny stocks, can take paper trade or trade with small capital (1% of your trading capital) to learn the technique.
EDUCATIONAL / PAPER TRADE:
Call for Monday August 24th 2020 // This is a swing trade call and not an intra-day trade //
NSE:
IOB
CMP / LTP: 11.7
IDEAL BUYING RANGE*: 11-12
1st TARGET: 13+ (10% Around) In 5-10 Trading Sessions // 2nd TARGET: 17+ (45%) In Short Term 3-4 Months
STOP LOSS: 9.9 (15 % Max)
HAPPY TRADING AND INVESTING!!
