The stock has an undervalued PE compared to the Industry average. It has formed a Cup and Handle pattern right after a bull trend. If the price breaks out after 48, then it has a potential to reach 62 (1st profit target).
Watch out for a price break out and add positions as a strong price up-move is possible.
Watch out for a price break out and add positions as a strong price up-move is possible.
Comment:
The resistance level of 48 is very strong. The price could not break that level to establish an upward trend. It has now gone down to 44. So if the resistance level of 48 is broken, then we can take a long position.