Relaxo Footwears Ltd (weekly chart) @ 464
SEEMS good to me with stop loss 430
Target expecting - 525 , 550
Relaxo Footwears is a market leader in the Footwear Industry. The company has 'state of the art' manufacturing facilities at Bahadurgarh (Haryana), Bhiwadi (Rajasthan) and Haridwar .
Company has reduced debt.
Company is virtually debt free.
-Beautiful Ascending Triangle formation in Relaxo Footwears.
-MACD turning bullish.
-Volume action not looking great, so I'll wait for a break on high volume before going long.
Not an investment advice. Do your own due diligence.
Relaxo Footwears Ltd. engages in the manufacturing and sale of footwear products. Its brands include Hawaii, Flite, Sparx, Schoolmate, Boston, Casualz, and Bahamas. The company was founded in 1976 and is headquartered in Rohini, India.