Swing trade setup - QPOWER
IPO base breakout followed by consolidation and rounding bottom formation.
Stock gave strong breakout candle after volume contraction and accumulation.
Will look for entry on retest zone.
SL below SL zone on closing basis.
Target will be the marked target zone with minimum 1:2.5 R:R.
Recent results were strong.
Sales: 159% up YoY
Profit: 73% up YoY
Debt to equity: 0.07
ROCE: 31.5%
PEG ratio: 0.86 as per screener.in
Major concerns:
1. Huge dip in margins from 28% to 11%.
2. Commodity price fluctuations which can impact margins further again. But company is managing them through higher inventory levels and passing to customers.
Overall recent concall's commentary was bullish.
IPO base breakout followed by consolidation and rounding bottom formation.
Stock gave strong breakout candle after volume contraction and accumulation.
Will look for entry on retest zone.
SL below SL zone on closing basis.
Target will be the marked target zone with minimum 1:2.5 R:R.
Recent results were strong.
Sales: 159% up YoY
Profit: 73% up YoY
Debt to equity: 0.07
ROCE: 31.5%
PEG ratio: 0.86 as per screener.in
Major concerns:
1. Huge dip in margins from 28% to 11%.
2. Commodity price fluctuations which can impact margins further again. But company is managing them through higher inventory levels and passing to customers.
Overall recent concall's commentary was bullish.
Trade active
My entry triggered @ 1060 
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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.
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.