Caution: I am highly biased on this one as I have been trading it on and off. However, new sightings deserve new mentions although targets may remain more or less the same.
Weekly/Monthly resistance line getting primmed for breakout.. todays candle was a bit of a killjoy but if it still closes above the resistance line then we can expect positive movement to continue..early indication of a rounding bottom in formation/an INHS breakout may also be interpreted... In conclusion, many positive signatures are being seen in this one including new 52W high closing ... management commentary (USFB) post Q4 results was very positive for the next FY... the cherry on the cake is still a potential merger arbitrage (mgmt timeline indicated Sep 2023) and a final dividend seems very likely on cards before becoming one with USFB (check the free cash/bank balance on books)
Weekly/Monthly resistance line getting primmed for breakout.. todays candle was a bit of a killjoy but if it still closes above the resistance line then we can expect positive movement to continue..early indication of a rounding bottom in formation/an INHS breakout may also be interpreted... In conclusion, many positive signatures are being seen in this one including new 52W high closing ... management commentary (USFB) post Q4 results was very positive for the next FY... the cherry on the cake is still a potential merger arbitrage (mgmt timeline indicated Sep 2023) and a final dividend seems very likely on cards before becoming one with USFB (check the free cash/bank balance on books)
Comment:
Application with NCLT for reverse merger pending since March 29, 2023... execting this to come through in the next few weeks... will be the trigger for further upside, if any