JMFIN - Ascending triangle in action!

Scrip should manage to cross the crucial resistance levels marking new highs if breakout with higher volume surge is seen to complete and validate the ascending triangle pattern :)

Bullish strength affirmation

1) SMA - 15 SMA is above 200 SMA and Price range has gone below 15SMA so for now, there is strength in the scrip movement
2) Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) breaking above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon and is reinforced by high trading volumes however, high trading volume is yet to be seen as prior for reinforcement to be gained
3) Volume contract while the scrip is ascending in ascending triangle and bulls have managed to maintain their grip

Anticipating the scrip to reach target price after breakout
Call - 1.5 to 2 months

Sound fundamentals :

- Company is expected to give good quarter
- Company has good consistent profit growth of 31.02% over 5 years
- Company has been maintaining a healthy dividend payout of 28.25%

- Debt mounting although NBFC company has adequate Interest Coverage: ₹ 2.23
- Negative cash flow
Comment: Scrip towering with major surge towards TP
Comment: Next aim.. 220, 220+
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