#Morepenlabs - At crucial levels. Make or break situation.Expecting up move again in coming day's. Strict SL of 50
MOREPENLAB trade ideas
MOREPEN LAB--> Quick 25% upside potential on 52w highThe above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Morepen Labs: 150% return expected in this counterMorepen Laboratories,smallcap company, is engaged in the business of manufacturing, producing, developing and marketing a wide range of Active Pharmaceutical Ingredients (APIs), branded and generic formulations and also the Home Health products.
Planning of capacity expansion and is taking aggressive steps to penetrate into the API business.Got approval to manufacture sputnik V in India.
Points to be noted:
Trading at P/E of 40 which is equivalent to avg P/E of the industry.
Net profit growth rate and sales growth higher than industry average growth demand higher P/E for the stock.
Company has reduced debt drastically.
Company has delivered good profit growth of 41.36% CAGR over last 5 years
Any 3rd wave as such or any fear of virus would further improve the sales of morepen.
Company is improving its business on QoQ basis continuously.
The numbers recorded by Morepen Labs is highest of all time on all the fronts as far as financials are considered which will least expect the price to reach its all time high i.e 175, which is a 150% return from hereon. However, the technical targets and stop loss are mentioned in the chart.
#TradeTheTrend#SmallCap#MultiBagger
morphan lab case studeytoday morphan lab upside 13% in intraday
we recommended at 37 levels now price is 70.90
and today we observe large volume with price and delivery quantity low so we expect little profit booking and again price jump if we bought at60-63 levels this is best buy zone.
and potiential to go 100 in next 1-2 month
ANALYSISSTOCK IS IN A BULLISH MOVE.
LOOKS LIKE ASCENDING TRIANGLE PATTERN BREAKOUT WITH GOOD VOLUME
O.236 FIBO SUPPORT ON THE DAILY TIME FRAME. AROUND 62.50
WHAT DO YOU GUYS THINK ?
Cup and Handle FormationThe stock is making a cup and handle pattern and looks good above 72.4 for 6-7% further upmove
Morepen Labs-Breakout candidateMorepen labs forming Cup and handle on daily charts with very high volumes. This can move towards 105 and further 170 in the long term.
MOREPEN LAB IS GOOD TO BUY FOR TOMMOROWMOREPEN LABS GIVE A BREAKOUT AFTER 70
ALL LEVELS ARE MENTIONED IN THE CHART
ALSO FOLLOW ME
Morepenlab - Breakout expectedA stock trading at 40/- breaks out and moves almost 75% that is close to 70/- and it is taking its own time to settle down before the second breakout.
Higher time frame there is no strong patterns to justify the break but in smaller time frame there is one. Price trying to break the 66/- level for the past 10 trading sessions and it breaks 2 times but meanwhile it can't hold the momentum. If price breaks 66 and holds the position then definitely once can expect the up move towards ATH.
MOREPEN LABMore pen lab is setting up for explosive move. Fundamentals of the company has seen drastic improvement in FY2020-21 also they have seen a significant increase in market share for API(active pharmaceutical ingredient) .Note Cash flow from operating activities has gone up by 4 times and company has a positive net cash flow.
Stock has given closing above its multi year trendline with very impressive volumes
T1 103
T2 150
Morepen labs1. On volume profile 58.5 seems to be a great support
Stop loss of 55 or 52 will be great
Buying with j range of 58.9 to 60 will be a great buy for target of 70+
2. Trend line breakout with higher volumes on breakout candle
Note : for educational purpose only . Before investing in my idea consult your FA
#Morepenlabs - Accumulating with lower volumesStrong support on weekly chart
Volumes are lowering on weekly basis
Morepen Labs VCP Studies Sharing VCP analysis of Morepen NSE:MOREPENLAB
Currently in Advancing Stage
In Less than 4 Weeks (26 sessions)
Net Gain after Breakout = 106%
Flag Pole was 80% High
Consolidation was 291 sessions
VCP Studies:
Nice Textbook VCP pattern with 5 Contractions
Move started with a failed breakout, from Ctn4. This was followed by a shakeout.
Finally after 4 weeks of testing patience, Morepen broke out.
Basing Stage:
VCP Formed = 291 days, until successful breakout
Test of strength53-49 is the first zone for test of strength followed by 44-41. If counter takes support in any of the mentioned zone and start making a horizontal base then we might see it crossing 3 digit in medium term.
Disc : it's not an investment advice to buy or sell
Ultra bullish The best time of entry was around 30 which we missed. Presently the scrip is in ultra-bullish trend and target by June end is 103 if the bullishness continues.
Chart Of The Year * Stock has given a Inverted H & S Pattern breakout on Monthly chart .
*If we look at the volume part, significant volume activity is witnessed at the time of neckline breakout .
*Price has also trading all the important moving averages.
*Considering all technical evidences we may see good up move in Morepen Lab .
CMP-65.00 RECO-Buy Entry Range-Rs.50.00 - 60.00 Target-95.00/150.00/220.00/280.00 Stop Loss-40.00 closing basis
Duration- 06 to 12 Months.
Thanks for reading and kindly let us know if you have any questions.
