ONGC: 2 break-out have observed in the up-trend. The major one is a flag pattern that confirms the rally to the next stop of @140 nearly can achieve the target of 13% .
Points to be Note (Technical + Fundamental)
1. Stock is in an uptrend with Fibonacci levels ranging b/w 0.5 to 0.3 fast trend.
2. Relative strength is strong for the month.
3. There have been two breakouts that will lead the rally in the next few days
4. Sales have been soaring by 22% and the correlation to sales vs profit is decreased by 82% as compare to last quarter
5. Investing activities have increased too... nearly double from last year.
6. P/E is fairly decent 15.6 above 10 but the company deserves that.
7. ROE is 7% as compared to its peers having 10-13.5%.
8. D/E is half to industry levels.
Let me know in the comment section. What's your view on this
Points to be Note (Technical + Fundamental)
1. Stock is in an uptrend with Fibonacci levels ranging b/w 0.5 to 0.3 fast trend.
2. Relative strength is strong for the month.
3. There have been two breakouts that will lead the rally in the next few days
4. Sales have been soaring by 22% and the correlation to sales vs profit is decreased by 82% as compare to last quarter
5. Investing activities have increased too... nearly double from last year.
6. P/E is fairly decent 15.6 above 10 but the company deserves that.
7. ROE is 7% as compared to its peers having 10-13.5%.
8. D/E is half to industry levels.
Let me know in the comment section. What's your view on this