MOREPEN LAB is consistently making HLs, which is a healthy sign in an uptrend.
ADD more if it comes near 40-38 range. Target: 60-71-80-90-105-115-130
NOTE: I'm not a SEBI REG. Study before investing.
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 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...
Technical:
1)Breakout from Stage I - Consolidation zone after 19 years with good Volumes.
2)Breakout Retest with Volume dry-up.
3)Reversing from 61.80% Fibonacci Retracement.
Fundamental:
1)Posting good Quarterly as well as YoY results.
2)Substantial increase in ROCE.
3)Reduced its Debt and approaching Debt free.
4)Positive Cash Flow.
Excellent Stock to look forward to!!
Made a inverted head & shoulder chart pattern in Monthly time frame .I am not surprised if price reach to 200 in near future . View invalid if price close below 35.00
53-49 is the first zone for test of strength followed by 44-41. If counter takes support in any of the mentioned zone and start making a horizontal base then we might see it crossing 3 digit in medium term.
Disc : it's not an investment advice to buy or sell
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.
