Graphite India being very niche stock. Demand for Graphite is rising in China and the international market. Strong support at 150. A big bullish trend can be expected.
CMP - 268.5
Target - 328
Support - 150
Type of Trade - Swing
Duration - 2-4 Months
Long Term Call! may be 3 months
After Graphite already invalidating the lowest low @265 and further closing the completion of prolonged correction presently, it looked all set for Targets T1: 320; T2: 338; T3: 376
Fundamentally: Strong and Undervalued
Debt to Equity: 0.04
Consistent profit growth of 51% for last five years.
Stock shall move upto 2-3 times of it book value, indicating a price range of 550-750 in coming year ahead.
Technically: Recovery from downtrend
Positive Divergence observed on the chart, indicating an upside from current...
I had highlighted this stock earlier . It has since appreciated by about 30% and going strong. Price action is constructive today after yesterday's volume spike.
I own shares in this company. Would add more today.
This is an example of the simple concept of breakout & retest. Notice how price corrects hesitantly even as trading volume dries up. This is classic signature of a stock in an uptrend. Notice the breakout today with higher volume.
Everything suggests buyers are active in the stock. Keep it in your watchlist.