Investment dividend stock near support!

tradewithamey_ Updated   
Petronet LNG is an investment stock with amazing dividend yield and a TTM PE ratio of around 10 at CMP of 222.

The chart of stock is quite simple. The stock is consolidating since 2017 but has continuously took support from a trendline which was earlier a resistance.
The stock is currently available at a strong demand zone which is the confluence of it 200 week EMA and 50 week EMA.

The stock is attractive at CMP and can also be added on dips uptill 205. SL can be a weekly closing below 190 and Targets can be 240,257 & 270.
If the stock sustains above the supply zone of 270-280, we can see a flag-pole breakout which can take the stock to new highs. So keep this stock in radar for long term purposes as well.

Note:- Idea has been shared for educational purposes only and should not be considered as a recommendation.
230 from 222
FInally a good move in petronet. 245+ achieved. T1 done


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