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.
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!!
A stock trading at 40/- breaks out and moves almost 75% that is close to 70/- and it is taking its own time to settle down before the second breakout.
Higher time frame there is no strong patterns to justify the break but in smaller time frame there is one. Price trying to break the 66/- level for the past 10 trading sessions and it breaks 2 times but meanwhile...
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
* Stock has given a Inverted H & S Pattern breakout on Monthly chart .
*If we look at the volume part, significant volume activity is witnessed at the time of neckline breakout .
*Price has also trading all the important moving averages.
*Considering all technical evidences we may see good up move in Morepen Lab .
CMP-65.00 RECO-Buy Entry Range-Rs.50.00 -...
NSE:MOREPENLAB has completed its corrective structure and given a breakout which it will retest and then wont look back in few days to come.
NSE:CNXPHARMA is gaining pace and hence most of the Pharma stocks.
A new rally is in motion!