Adani Green looks bearish on Daily, weekly & Monthly TF due to oversold region on RSI.
Accumulation is completed and a possible distribution (Double Top) and reversal is expected
The Target & SL has been updated on the chart.
This is solely my view and for educational purpose only.
let me know your thoughts in the comments section
ADANIGREEN currently trading at a Price to Earnings ratio(P/E ratio) of more than 1100, and EV/EBITDA of around 170.
The stock has risen nearly 120 times from its all-time low. Meanwhile, the company revenues have grown 5 times and operating profit has grown by 10 times.
Though, the company operates in Renewable Energy, Do the current valuations justify ?
Past 5 weeks selling volume is very less compared to buying one. Can show good upside momentum.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Adani Green Energy has been on a huge rise ever since the stock market bottomed out last year. It has recently given a range breakout. However, the candles that are forming right now are not very good. Therefore, one must ask whether the rally will sustain or not. Right now it is in no trade zone. If the stock sustains above its zone (clearly marked in chart) then...