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Manappuram Bullish Flag Pattern BreakoutHello Dear Traders,
bullish flag pattern breakout in manappuram stock.. as per pattern target price is high but in current market scenario we are not waiting for that target... expected target is 110 and 115 . Entry,Exit and Targets given on chart ..
dis chart is just for educational purpose please do ur own study before enter in any trade.
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REGARDS
KING999
Manappuram short nov2019Ok so this rectangle size box is only hope for this stock to continue this upside momentum, I will look to short below this box and this looks good for 8-10% downside move. Actually I was long in this and just got a good exit today now suddenly it is looking good for downside too and I thought why not. Let’s see..
And guys please do your own study before any trade, I do this to record my trades only..
MANAPPURAM weekly chart analysis for bulls who are in profitThings that bulls who are already riding on profits can do now:
1.a) Hold with a save profit at 132 if you want to preserve your profit and let the profits run and keep trailing your save profit order higher and higher with every bullish move.
1.b) Book partial profit at logical targets 163(CMP)-180-205-250 based on Fib extension with a save profit at 132 if you want to preserve your profit. Expecting more bullish move until mid July 2020
2) Wait for a retracement and add more at 115-104 levels to your existing position if you planning for a long term trade.
Manappuram finance in major uptrendVery good financials. Near all time high of 130. If it is able to break 130 then will continue in its uptrend.
Compounded Sales Growth
5 Years: 83.34%
3 Years: 19.86%
TTM: 14.23%
Compounded Profit Growth
5 Years: 86.63%
3 Years: 35.29%
TTM: 22.00%
Return on Equity
5 Years: 17.18%
3 Years: 19.02%
Last Year: 18.63%
Manappuram Breaking: Up, Up & Away?-After forming a double bottom, Manappuram is breaking out of a cup & handle set up.
-Formed a bullish engulfing candle on breakout.
-Breakout happened on high volume. Twice the 20 day average.
-Bullish cross on MACD.
-The latest candle was an inside day candle, suggesting a huge move (most likely higher) is on the cards.
This is not an investment advice. Do your own due diligence.