PERSISTENT SYSTEMS - POSSIBLE BREAKOUT FROM INVERTED H&S
Persistent Systems counter has closed a significant raising resistance line.
I think,
a.) we should wait for few days for the Breakout to sustain for confirmation
b.) Wait for possible retesting of the Resistance line.
The counter is look good for the following reasons:
- Break out from resistance level that is being tested during last 18 months, during which time company has given better earnings making it more valuable (EPS from 23.08 -> 32.91 while Stock at approx. same level)
- High and raising RoE, RoA, RoCE.
Looks like potential long term opportunity
Enter above: 5250
Stop Loss : Closing below 4925
Initial Target : Around 6080
NOTE: I am not a professional Trader/ Investment Expert/ Advisor. please exercise your judgement after independent analysis
I think,
a.) we should wait for few days for the Breakout to sustain for confirmation
b.) Wait for possible retesting of the Resistance line.
The counter is look good for the following reasons:
- Break out from resistance level that is being tested during last 18 months, during which time company has given better earnings making it more valuable (EPS from 23.08 -> 32.91 while Stock at approx. same level)
- High and raising RoE, RoA, RoCE.
Looks like potential long term opportunity
Enter above: 5250
Stop Loss : Closing below 4925
Initial Target : Around 6080
NOTE: I am not a professional Trader/ Investment Expert/ Advisor. please exercise your judgement after independent analysis
Trade active:
Consolidating around SL, HOLD with caution.
Note that IT Index is on the down trend and could be impacting the stock
Note that IT Index is on the down trend and could be impacting the stock
Trade active:
After few days of consolidation/ retracing, the counter is showing a fresh momentum. HOLD