GHCL - A STOCK THAT SHOULD BE IMMEIDATELY BOUGHT
GHCL
CMP 349
Stop 270
Target 600 plus
Monthly Chart
1) Stock has completed a broad rounding bottom formation based breakout at 205 which has become a strong support.
2) Stock has done a post retracement breakout above previous swing high at 295 levels which is possibly the next level of strong support.
3) 30 period ma is acting as a resting point for the stock in its uptrend.
4) Stock has multiplied 2x to 3x on three occasions since its encounter with 30 period ma (from 39 to 95, 82 to 160, 101 to 295); stock expected to repeat given the similar pattern by atleast 2x times from 213 level which gives a target of 425 plus and 3x gives a target of 640 plus. Hence stock expected to reach an average level of around 530 levels.
5) Trailing stops and traders patiences recommended to capture the max benefit.
CMP 349
Stop 270
Target 600 plus
Monthly Chart
1) Stock has completed a broad rounding bottom formation based breakout at 205 which has become a strong support.
2) Stock has done a post retracement breakout above previous swing high at 295 levels which is possibly the next level of strong support.
3) 30 period ma is acting as a resting point for the stock in its uptrend.
4) Stock has multiplied 2x to 3x on three occasions since its encounter with 30 period ma (from 39 to 95, 82 to 160, 101 to 295); stock expected to repeat given the similar pattern by atleast 2x times from 213 level which gives a target of 425 plus and 3x gives a target of 640 plus. Hence stock expected to reach an average level of around 530 levels.
5) Trailing stops and traders patiences recommended to capture the max benefit.
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