RELAXO - Expected Value Buying in coming weeks. Consolidation near Resistance and breakout of falling trendline expected. Its good stock to accumulate at this price. Good to add above 866 for short term.
Recommendation:
Short Term Buy: 1108
Short Term Target: 1185
Short Term Stop Loss: Below 1048
Long Term Buy Range: 1048-1108
Long Term Target: 1448-1775
Long Term Stop Loss: 985
The chart speaks for itself.
S1 seems like a good buying range upon a strong bounce.
If S1 breaks, S2 seems like the next best support as per Fib and Price Action as well.
RSI has reached 30 in weekly chart showing some MOS.
The PE ratio has been high due to fall in EPS this year. However, such setbacks are temporary in nature for a fundamentally strong...
