Morepenlabs
MOREPENLAB EODA 01 July 2020Pure Technical View
CRS Advanced and now side ways abv 50.
Price Retracing after Sharp move 2 Weeks back 15/06/2020
EMA Wise
Taking support at 21D EMA
RSI is retracing as well with price.
MACD is above Zero and Sideways.
Volumes in retracement LOW.
Price should bounce back from FIBO @ 21.50
TGT 34.00 & 43.00
!!! All charts for education purpose only !!!
Buy Morepen Laboratories - Long Term Positional CallI recommend to Buy Morepen Labs as a positional call for medium term. Charts of morepen labs shows that the stock is oversold in the market with unjustified pessimism. It's prime time to get into the morepen labs with targets of rs. 42.00 which can be seen within 12 months from now. It has created a Inverted Hammer Pattern which is a strong bullish reversal sign.
While the fundamentals of the company are very strong as company has shown growth in bottom line.
Strict stop loss must be placed at 18.00
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