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.
RSI: 64.3 (bullish but not overbought)
ADX: 28.3 (indicating strong trend)
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.