ACI given breakout on weekly timeframeACI seems good on weekly timeframe. Result today. Upside potential
Archeanchemicals
ACI - Breaking out H&S bearish patternHead and Shoulder is a bearing pattern. ACI seems to be negating H&S pattern by breaking the trendline in chart & RSI in daily chart with volume. Trendline between head & right shoulder top yet to be broken. Closing above 690 (Right shoulder) would confirm that bearish pattern is negated
Pidilite Industries Q chart respecting trendlineChemicals technical got better in daily chart. Weekly chart improving.
Sector leader Pidilite Industries Q chart
Breakout of Archean Chemical..Consolidation breakout for Archean Chemical Stock..
Strong weekly bullish candle..
Good time to enter..
It may retest the structure, keep mind this..
Fundamentals good..
Archean Chemicals fundamentally strongCompany producing bromine and industrial salt with great fundamentals and cashflows. Chemical industry is still struggling. In recent concall, Management said global inventories are over and could expect the demand soon. They've increased the capacity as well. Management further said domestic demand is picking up. 1st target 700, 2nd target 815. Could be held for long term as well.
Disclosure: Holding
