[Mixed Signals] Archean Chemical Industries - What's your view?

[Mixed Signals] Archean Chemical Industries Ltd. What's your view?

Fundamentals
MCAP- 7400 Cr
PE - 27.86 < Industry PE of 32.2, Moderately priced
PEG Ratio is 0.64, excellent
Debt to Equity is 0.02 and ICR is 42
ROE is 19.45%, ROCE is 25.75% ( 5yr ROCE is 29.26%)
Sales growth is -17%, 5yr Sales growth is 18%
Profit Growth is -33%, 5yr Profit growth is 43%
Promoter holding is 53.44% , marginally down in last one year
FII Holding has gone up steadily in past few quarters
DII holding on downtrend , in last few quarters
Latest results - Poor results for past few quarters

Technicals
CMP - 596
Bearish - below EMA 9, 21,63, 200 on daily charts , RSI(14) is 19
Much oversold

Commentary
As seen in the charts the stock has
1.Formed a head and shoulder pattern. If it decisively breaks below 580-600 zone, it should head straight to 520 levels as per head and shoulders target
Bearish Target : 520
Stop loss : 600, just above 590 levels
Timeframe : 6-9 months
2. Also reached near demand zone at 590 levels. It has taken support from 590 levels multiple times in the past and risen above.
Bullish Target : 650>725>800
Stop loss : 580
Timeframe : 6-9 months

Risks : Poor results in the last few quarters.

I will be firming up my view in the next couple of weeks based on results on Feb 3rd.

Disclosure 1 - Invested
Disclosure 3 - This is Not investment advice. Treat it as educational