ALLCARGO BUY WITH TRENDLINE + HEAD & SHOULDER BreakoutProvided trade details in chart for NSE:ALLCARGO .
BUY AT 57 on breakout Target is 63.5 with SL at 50.5
Allcargolong
All Cargo - VCP All Cargo Logistics is India's leading logistics solution provider.
If price sustains above neckline, it can trigger a fresh rally.
There are looming risks from logistics slowdown from recession, which is evident from the Delhivery share price debacle recently.
However, the technical set up is strong, and the company has shown strong growth at a relatively attractive PE Ratio of 10.
ALLCARGO - A long term viewThe stock has closed at a price of 391.65 which is just a fraction short of moving above all important EMA and make it technically bullish.
Fundamentals of the company have significantly improved which is a good sign.
Since the EMA crossover in the month of August we have seen the price hit a fresh high of 452 levels.
During this rise we have witnessed a pullback at the levels of 328.
Current levels are showing signs of another pull back and if we have prices moving or closing above 394 we could see the levels of 452 being hit once again.
There could be some resistance at around 413 levels.
The projected growth for logistics sector is around 15% which is currently at 10.5%(approx.)
So keeping a stop loss at around 375 one can go long in this counter above 394 for a target of 452 on a short term basis.
From a long term point of view 600 levels look a decent shot.
Stock about to breakout - Allcargo LogisticsThe stock is about to breakout from a big resistance from December 2015. The price tried to cross the resistance several times but was unable to do so. This time the volume has been rising as seen in the chart so there seems to be a very possible chance of a breakout.
Note - This is not a recommendation, it is just for education purposes. Trade at your own risk.
ALLCARGO LOGISTICS Six Year Brackout ALLCARGO LOGISTICS Six Year Brackout and Triple TOP Brackout, you Can See the Volume Bar this is also show the support you Can Buy This Share at Current level Your Stoploss is 220 in Closing Basis.
