Waiting for a pullback to enter this stock
Technical: stock quickly recovered from recent COVID-19 crash lows. It held 2019 lows and surged higher very quickly to make new highs. The stock broke out of a 5 year high with extremely high volume which is seen after 5 years. it's a good sign. on the daily chart, you will see up days are on higher volume and down days...
Metropolis post its results on 6th Feb did meet with some heavy profit booking that dragged the prices lower by 150 points. However, the momentum in this counter continues to remain upbeat. The dip provided a good opportunity to some strong hands to reenter and quickly place the stock back in contention. On the charts we note that the trends post a steady...
1) Likely to breakout of triangle pattern as low volume on retracement
2) Navi mumbai hospital which was loss making and eating away profits has now become ebitda positive, likely to boost profitability in near quarters
3) Fortis IHH deal will rerate the healthcare industry
4) RSI above 60 though fallen due to consolidation
Based on my PredictiveSystem's signals, its going to be a GREEN candle on 31-May-2018 for FORTIS
Buy Above: 146 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting...
The price action is trading a diagonal triangle and it is urge of a breakout on either side of it. Today's close shall determine the furture price action in this. Keeping a close eye on it as the breakout on either side shall reward in good returns.