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DPWIRES

Channel pattern breakout in DP wires.Hello Hardworking Traders! I am back again with a beautiful breakout Stock, DP wires. Here is a quick overview of its Technical and Financials. Technical. Dp wires spent over 2 years consolidating in an ascending channel pattern. >>The chart shows a consistent bullish trend within this pattern, forming higher highs and higher lows. >>Recently, it retested resistance, pulled back, and established a new support line within the pattern. After a brief consolidation, it surged past the resistance level and is now holding above it. >>We can also find, there's been a significant spike in daily volume within a single day, confirming the strength of the breakout. Financial >>The company has reduced its debt significantly and is almost debt-free now. >>People are expecting the company to have a good quarter ahead. >>The company's profits have been growing well, around 33.0% on average each year for the past 5 years. >>They've improved how quickly they get paid by customers – from waiting 42.4 days to now just 26.1 days. >>Over the last 10 years, the company's sales have increased by about 22.6% on average each year. >>The company is also doing better with managing its money, as it needs less working capital now – reduced from 63.9 days to 37.9 days. >> Recently for the first time FII started taking interest. "The pointers suggest strong fundamentals, making it highly likely for this company to evolve into a multibagger." Entry We're all set to enter this long trade. With that said, it's important to position our stop-loss order just below the newly established support zone. Will update its exact target level later on but it could be more than 15 % as our Stop-Loss would be the same. Do consider pressing the boost button🚀🚀, It helps me bring more interesting analysis. And if you've any question and suggestion please feel free to post in comment section. Please note I am not SEBI registered. Do your own research before investing.
NSE:DPWIRESLong
by BullishLine