MOREPEN LABORATORI

NSE

MOREPENLAB

STOCK HAS GIVEN TRENDLINE BREAKOUT AND ALSO BROKEN THE RESISTANCE WITH GOOD VOLUMES. TARGETS 21.50,24.50 IN NEAR TERM.

NSE: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

I 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...

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.

the 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

MorePen reverse Head and shoulder Pattern on Daily TF.

I 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.

Support at 31 and Resistence at 37-38 levels

Target 33

Accumulation: 680 days Momentum: 7-8 months

CCI(D/W) > 100 TGC on D/W Reversal confirmation on D/W Movement towards 32 ongoing (61.8 Fibo level)

Daily Close > 18.90 and High > 18.65 will confirm the reversal on D basis CCI>100 Volume Surge

Check the annotation in the chart.