Multi Year Breakout - Rounding Bottom Pattern
Eris Lifesciences is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products.
The Stock Broke out of a multi year breakout with good volume. RSI is at perfect levels. The stock is bouncing after taking support at 50 & 100 DMA both at the same place.
The Company is performing good continuously. An annual revenue growth of 7% is good & ROE of 22% is exceptional. The Company is Debt Free and has strong Balance Sheet. It has potential to post good numbers in coming years as well. EPS of the Company has consistently improved. FPI have also improved their stake in the company from 10.11% in June, 2020 to 12.42% in March 2021.
Accumulate for Targets of 700-760 with SL at 580. Long Term Target 850.
Please feel free to share your feedback and queries.
The Stock Broke out of a multi year breakout with good volume. RSI is at perfect levels. The stock is bouncing after taking support at 50 & 100 DMA both at the same place.
The Company is performing good continuously. An annual revenue growth of 7% is good & ROE of 22% is exceptional. The Company is Debt Free and has strong Balance Sheet. It has potential to post good numbers in coming years as well. EPS of the Company has consistently improved. FPI have also improved their stake in the company from 10.11% in June, 2020 to 12.42% in March 2021.
Accumulate for Targets of 700-760 with SL at 580. Long Term Target 850.
Please feel free to share your feedback and queries.
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