ACC FY 2022-23 HIGHEST VOL. CANDLE BREAKOUT ABOUT
ACC Limited (incorporated in 1936), a member of the LafargeHolcim Group, is principally engaged in the business of manufacturing and selling of Cement and Ready Mix Concrete. The Company has manufacturing facilities across India and caters mainly to the domestic market.
PROS
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 32.2%.
CONS
The company has delivered a poor sales growth of 10.8% over past five years.
Company has a low return on equity of 11.2% over last 3 years.
Trade ideas
ACC Technical Analysis: Bullish BreakoutIn this analysis, we will thoroughly examine the technical aspects of ACC's chart, highlighting the bullish breakout of the falling trendline, bounce from the 100-day Simple Moving Average (SMA), and the solid strength shown by the Relative Strength Index (RSI). Additionally, we will take into account the positive fundamental indicators, such as the better-than-expected EBIDTA and PAT figures. Based on these technical and fundamental factors, we will assess the potential buying opportunity for ACC. Let's proceed with the analysis.
Chart Analysis:
The TradingView chart for ACC reveals several significant technical and fundamental factors that may impact the stock's price action.
Breakout of Falling Trendline:
ACC has experienced a clear breakout of the falling trendline, signaling a potential shift in the stock's trend from bearish to bullish. The breakout suggests increased buying interest from traders and investors, setting a positive tone for further upside potential.
Bounce from 100-day SMA:
The stock's price has rebounded from the 100-day Simple Moving Average (SMA), a key technical indicator used to gauge short-term trends. The bounce from the SMA indicates a potential support level, contributing to the bullish sentiment.
RSI Strength:
The Relative Strength Index (RSI) is showing solid strength, indicating favorable momentum for ACC. A strong RSI suggests that the stock's momentum is in a positive state, supporting the case for potential further upside.
Positive Fundamental Developments:
In addition to the positive technical signals, ACC's fundamental indicators are also encouraging. The company's EBIDTA came in at ₹770 crore, surpassing the expected ₹550 crore. Similarly, the PAT stood at ₹466 crore, significantly higher than the ₹227 crore reported in the previous year. These robust financial results may attract more investor interest in the stock.
Trading Opportunity and Targets:
Considering the strong technical and fundamental factors, a buying opportunity is presented for ACC. Traders may consider initiating a long position at the current market price (CMP) of ₹1948. However, it is essential to acknowledge that the suggested stop loss at ₹1751 is relatively deep. Traders should carefully assess their risk tolerance and consider adjusting the stop loss according to their comfort level.
For the target, the initial level is set at ₹2364, representing a potential upside target based on the stock's bullish outlook.
Conclusion:
The technical analysis of ACC's chart, complemented by the positive fundamental indicators, signals a bullish outlook for the stock. The breakout of the falling trendline, bounce from the 100-day SMA, and strong RSI strength indicate potential further upside. Traders may consider entering a long position at the CMP of ₹1948, with a stop loss set at ₹1751 and an initial target of ₹2364.
As with any investment decision, caution should be exercised, and it is recommended to conduct thorough research and consult with a financial advisor before making any investment choices. Additionally, traders should closely monitor the stock's price action and consider implementing appropriate risk management strategies.
ACC Harmonic ABCD Pattern on Weekly chart tgt 2057-2130ACC is looking bullish on daily and weekly charts
1. Formed ABCD pattern on weekly chart
2. Weekly close above Upper Bollinger band
3. Narrowing Bollinger Bands
4. Daily RSI Above 60
5. Daily Ascending Triangle Breakout at 1848 levels
5. Price Above 20 SMA (weekly)
Strong Support at 1870-1820 zone.. Buy on dips for a positional target upto 2130 (minor resistance near 2097 levels) and Investment Target of 3200 +
I am not an expert I just share interesting charts here, Please seek expert advise before investing as investment in stock market is subject to market risks.
ACC - Multi Directional View waiting for confirmationThe Channel Breakout technique is a simple, robust trading method made famous by the Turtles Traders. It's a profitable pattern favoured by many great traders and money managers. Like the Moving Average Breakout method, the Channel Breakout attempts to catch the early trend.
ACC - Intraday Trade || 5th June, 2023 #stocks Analysis Criteria Used:
1. Please find the Chart Analysis done for the Intraday Trade Idea levels for 5th June, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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* Please do your own research and/or contact your financial advisor before taking any trading opportunities
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Downtrend channel pattern breakout in ACC LTDACC LTD
Key highlights: 💡⚡
📊On 1D Time Frame Stock Showing Breakout of downtrend channel Pattern.
📊 Strong Bullish Candlestick Form on this timeframe.
📊It can give movement up to the Breakout target of above 2040+.
📊Can Go Long in this stock by placing a stop loss below 1712-.