Pure Technical View
CRS Advanced and now side ways abv 50.
Price Retracing after Sharp move 2 Weeks back 15/06/2020
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 !!!
We 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
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...
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
disclaimer... not an investing/trading recommendation
Morepen Laboratories Ltd. engages in the manufacture and market of bulk drugs and pharmaceutical formulations. The company was founded by K.B. Suri on December 1, 1984 and is headquartered in New Delhi, India.