OLECTRA GREENTECH is nearing triangle breakout

Aug 25, 2022

OLECTRA is nearing triangle breakout
Entry : Wait for breakout with volume above average and then take position
Exit : When the setup is invalidated by false breakout
Target : Can be anything below 940, giving around 50% returns from current price of 591.5. However start booking partial profits at 720 and above.

Fundamentally income statement is good, debt to asset ratio is low (which is good), however PE ratio is high as electric buses are the need of the hour for all governments and corporate companies.

Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.