Morepen Lab reversing from a Support zone.
After breaking out from a 3 year old resistance at 75, the stock retraced back to the breakout level and is taking support from there. Ideal entry was 75 but if you missed it then we will look for fresh entry possibility.
Please check the chart for Entry/SL.
✅Today's candle sustaining right above 50 DMA.
✅Chart Structure is improving.
❗️Stock structure turned to LH-LL now slight improvement in structure.
❗️Even though overall market is showing early signs
of reversal. We are trading below 50 DMA.
❗️25K might be a tough hurdle. So, need to be
cautious.
▶️Market Cap---₹ 4,710 Cr.
▶️Current Price---₹ 86.0
▶️Stock P/E---39.9
▶️ROCE---16.8 %
▶️ROE---12.0 %
Chart shared only for educational purposes only. Please do your analysis before investing.
Please check the chart for Entry/SL.
✅Today's candle sustaining right above 50 DMA.
✅Chart Structure is improving.
❗️Stock structure turned to LH-LL now slight improvement in structure.
❗️Even though overall market is showing early signs
of reversal. We are trading below 50 DMA.
❗️25K might be a tough hurdle. So, need to be
cautious.
▶️Market Cap---₹ 4,710 Cr.
▶️Current Price---₹ 86.0
▶️Stock P/E---39.9
▶️ROCE---16.8 %
▶️ROE---12.0 %
Chart shared only for educational purposes only. Please do your analysis before investing.
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