Stock has broken out with huge volumes in the past 2 weeks and has doubled. Previously stock has been moving in the marked channel for some time.
Buy above 62 with first target of 80 Rs and SL of 46 Rs
Company makes Gelatin capsules and has a good clientele.
PE - 16.51
ROE - 18.31%
EV/EBITDA - 7.7
YoY profits last quarter - 12 %
PEG : 0.45
Seems like a company with very good fundamentals at the point of inflection. Thoughts please?
Stock has corrected a lot in recent times. However, the channel has become very small in the descending triangle. Notice the volume and divergence that is forming.
Would love to hear your views friends and mentors.
Seems like MOIL is forming a H & S pattern on daily charts. I have seen several smart chartists in this forum reporting it as a LONG.
Can someone help me in identifying whether this is a wrong pattern?