reviewing NSE:MOREPENLAB
chart posted on 20th August 2023 when the price was 38
now it has made a high of 53.
40% gains till now and more to come
immediate 1st target will be 75
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is...
#MOREPENLAB
CMP ₹.49.2/-
Date : 23-12-2023
Morepen Laboratories Ltd , a pharmaceutical company,now in its 52 week high today. A zero promoter pledge company with low debt. Revenue and profit increasing for last two quarters. Now in a turnaround phase , both fundamentally and technically. Robust recovery from it's 52 week low. Technically looking good with multiple...
MOREPENLAB Prediction for Swing/ Positional Trading
You can entry into trade above Break out level 42. CMP is 43.45 It can retest the BO level or can down more. You can buy more at that time or trade according to your experience.
Sls- according to you RRR.
Targets-45.5,48,50,54,59,64,68,73,78,82,87,92,96,101,…,… (more will be updated later if need...
Morepen is brilliantly placed in charts with 2 Bullish patterns emerging, indicating an upswing.
In my opinion, the stock can easily add 10% from the current levels in a very short span of time.
Can be bought at current levels, keeping a stop loss at 67.
Supporting Technicals:
RSI: 64.3 (bullish but not overbought)
ADX: 28.3 (indicating strong trend)
MACD is...
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Note: This is for educational purpose only.
There seems to be a bullish breakout with ultra high volume. There seems to be a bullish RSI breakout as well. RSI above 65 indicates bullish momentum.
NSE:MOREPENLAB
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Above 17.5 for target 20/22 with SL 16.35
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Not revealing my strategy, TA
Why almost all calls are successful ? if want to learn ... inbox me
The price is still in a downward move, however the recent move which broke the cloud from below and was able to sustain for a couple of weeks above of cloud, means showing signs of exhaustion in selling.
