Round bottom is formed here in weekly time frame, confirmed by breakout with good volume, recently price retested the breakout level and reversed to resume its uptrend.
also hidden bullish divergence seen in weekly
sl - 61, tgt - 100-110 range
Ganesh Housing- Stock was trading dowside in last 8 years and now finally at near breakout on rounding bottom pattern if stock close above 165 then buy that with stop loss of 80 target 360-480 in next 2 years
Everything is in the chart.
T1 is given is height of the pole.
T2 is given as cup depth.
T3 is given as rounding bottom depth.
Could keep stop loss at cup and handle breakout level.
P.S : Wait for end of week confirmation on the breakout. Preferable if the breakout is with above average volumes.
Also look for positive signs on indicators like MACD and RSI....
You could call it and Inverted H&S breakout or even a Rounding Bottom/Cup and Handle Breakout.
Target 1 is given as immediate resistance
Target 2 is given as height of the bottom to breakout / height of the head.
Trail SL once T1 is achieved.
R/R ratio looks great.
Let's make some money! Happy Trading.
Company makes Gelatin capsules and has a good clientele.
PE - 16.51
ROE - 18.31%
EV/EBITDA - 7.7
YoY profits last quarter - 12 %
PEG : 0.45
Seems like a company with very good fundamentals at the point of inflection. Thoughts please?