Fundamentals here take the backseat with a sky rocketing PE ratio.
Technically, the price is right at the 61.8% retracement base.
Bullish Hidden Divergence Spotted.
This tells me the stock will take the turn but let us wait and watch.
No Targets for such stocks - StopLoss based on risk appetite is Mandatory and #Ridethetrend
The predicted buy & sell zones plotted are an approximation and for accurate levels use the indicator (tradershedge) which updates the levels on real time and also triggers an alert.
You can make entry decision once you get a confirmation at the respective marked zones and opt for the next successive zones as expected targets in the direction of the trend.
Solid weakness developed in the stock and looks to be breaking one support after the other.
I would not recommend taking a trade but this is a recommendation to book your profits. Don't keep holding. Book profits for now. I see a lot of weakness.
Like and follow.
Adani Green has given a tremendous return and it has very less free float in the market. Mostly it hit circuits and there has been an increase in volume of 45M on a particular day. Since the stock is so high that I am assuming that strong hands have exited. KINDLY DO YOUR OWN DILIGIENCE.
One of the principles of technical analysis is "ride the momentum". This stock has been in such a massive uptrend. This is a stock for both investors as well as traders.
Ride the wave guys :)
Like and follow :)
this stock has given many false signals and it will continue to give false signals but don't be scared of it hold your trades.
because this stock is giving continuous uptrend and will not stop.Just gives false signals to scare investors and force to exit them.
and what are the false signals in this stock?
false signals are those who show trend...
The company has a Current PE ratio of above 400 !!!! and price to book value of over 70 !!!!! 2020 is the first year it is actually showing profit on the financial statements, until 2019 this company was not making money. It's debt to asset ratio was a whopping 95% in 2019, with increasing liablities.
I am not saying that the company has no hope, maybe now it will...
Adani Green Energy Ltd. operates solar generation company. It offers solar power plant and wind power projects in various construction. The company was founded on January 23, 2015 and is headquartered in Ahmedabad India.