VCP breakout + Flag continuation
Technical View :
Mayur Uniq gave a breakout from 4 legged VCP with excellent volumes recently.
After breakout, it made a pole and flag pattern, with 18% pole size.
If the flag breaks with good volumes, this can be considered a continuation pattern.
Fundamental View :
It is a leading player in organized leather industry with 60% revenue from Auto sector, which has been doing excellent lately.
Strong sectoral tailwinds with 18% Revenue CAGR guidance on improving margins further reinforce the continuation thesis.
Strategy :
Have added a test buy position, and will scale up if breakout sustains.
Keeping a close stop loss is crucial in case pattern reverses.
Disclaimer : It is not an investment advice, only for sharing how I view setups and decide how/when to enter/exit. Please do your own research.
Thank you for reading :)
Mayur Uniq gave a breakout from 4 legged VCP with excellent volumes recently.
After breakout, it made a pole and flag pattern, with 18% pole size.
If the flag breaks with good volumes, this can be considered a continuation pattern.
Fundamental View :
It is a leading player in organized leather industry with 60% revenue from Auto sector, which has been doing excellent lately.
Strong sectoral tailwinds with 18% Revenue CAGR guidance on improving margins further reinforce the continuation thesis.
Strategy :
Have added a test buy position, and will scale up if breakout sustains.
Keeping a close stop loss is crucial in case pattern reverses.
Disclaimer : It is not an investment advice, only for sharing how I view setups and decide how/when to enter/exit. Please do your own research.
Thank you for reading :)
Disclaimer
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.