All channels have be comprehensively broken . This count is just a whisker away from being a 12345 to an ABC . ABC means the company would be in serious distress , Just see this chart on aritmetic scale.This is the midcap story.
Scrip might reach the desired TPs after breakout from descending triangle however, would prefer to book profits at resistance levels after entry range confirmation of bullish momentum
Fundamentals Pros :
Healthy dividend paying company with not so much risk involved as per book value
Stock P/E: 26.56
Price to book value: 2.82
Price to Sales: 1.15
Fiem industries facing strong resistance in the form of channel resistance. Rejecting price at higher levels showing that price is unable to sustain higher levels. Look for shorting opportunities if market does not support look for lower channel target.