MOREPENLAB trade ideas
Morepen Labs - Bullish BreakoutNote: This is for educational purpose only.
There seems to be a bullish breakout with ultra high volume. There seems to be a bullish RSI breakout as well. RSI above 65 indicates bullish momentum.
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 !!!
Long morepen on minor pullbacksWe can go buy morepen on minor pullbacks
Technical: the stock has surged more than 100% in 5 weeks. The price is back above 50-200 DMA. highest weekly volume since 2018. These are good signs
Fundamental:
This stock shows good sales and profit growth.
3 years of sales growth - 16.6%
3 years of profit growth - 18.9%
Margins are at 8%, there is more room for margin growth, their income has increased due to the minimization of debt(interest payments were eating up the profits). Debt is down by 90%(great sign). If the margins sustain or go higher we can see higher profits and further price appreciation
TTM earnings up 17%, there might be a negative earnings surprise in next quarter however if that doesn't happen, we can see higher prices
Stock is looking good for lontermLot of interest in the stock at the bottom. Volume has been increasing consistently for the past 2 weeks.
Will wait for the stock to consolidate before resuming it's move.
BUYSTOCK HAS GIVEN TRENDLINE BREAKOUT AND ALSO BROKEN THE RESISTANCE WITH GOOD VOLUMES. TARGETS 21.50,24.50 IN NEAR TERM.
MOREPENLAB - TA - 10% to 20% TargetsNSE:MOREPENLAB
==========
Above 17.5 for target 20/22 with SL 16.35
==========
Not revealing my strategy, TA
Why almost all calls are successful ? if want to learn ... inbox me
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
If anyone interested in more such fundamental and technical calls please visit our website wp.me
accumulate morepen labs.The price is still in a downward move, however the recent move which broke the cloud from below and was able to sustain for a couple of weeks above of cloud, means showing signs of exhaustion in selling.
wyckoff reaccumulation in phase cthe swing in pink marks and the pink numbers are weekly swing data...
rest is the daily swing data
more details about the chart
forum.valuepickr.com
disclaimer... not an investing/trading recommendation
Morepenlab - Penny Stock!Monthly chart of Morepen laboratories shows price action is forming cup and handle pattern. Weekly chart shows the price is breaking the triangle. One can buy morepen above 20 for the targets 28, 33 and 39. Consult your financial manager before investing.
Happy New YearI joined later in this year but it is feeling like second home.
Hope to have more learning and interaction in 2018...
Quoting this chart from Morepen which really blasted for a christmas celebration.
Buy with SL 17.5 for Tgt 40.Retest of RSI & Price support zone usually offers very comfortable entry opportunity with awesome R:R for medium to long term investors
#MOREPENLABCCI(D/W) > 100
TGC on D/W
Reversal confirmation on D/W
Movement towards 32 ongoing (61.8 Fibo level)
