Southern Petrochem break out
تم تحديثه
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or close below daily supertrend (for short term traders) or close below weekly supertrend (for long term investors)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Largest weekly price spread
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
after quarter sales growth of 15%, quarter profit growth of 832%, and TTM sales growth of 15% and TTM profit growth of 318%,
SPIC give a high volume break out on 21st March 2022 after a consolidation since July 2021. Today it came down to the previous resistance zone at Rs.68-69 and gave a bounce back. Buy with a stop just below Rs. 68.
Other fundamentals:
1. The company has reduced debt from 408 crores in March 2020 to 104 crores in September 2021.
2. The company has delivered good profit growth of 43.79% CAGR over last 5 years.
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or close below daily supertrend (for short term traders) or close below weekly supertrend (for long term investors)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Largest weekly price spread
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
after quarter sales growth of 15%, quarter profit growth of 832%, and TTM sales growth of 15% and TTM profit growth of 318%,
SPIC give a high volume break out on 21st March 2022 after a consolidation since July 2021. Today it came down to the previous resistance zone at Rs.68-69 and gave a bounce back. Buy with a stop just below Rs. 68.Other fundamentals:
1. The company has reduced debt from 408 crores in March 2020 to 104 crores in September 2021.
2. The company has delivered good profit growth of 43.79% CAGR over last 5 years.
ملاحظة
Good bounce back from support levels. Still a buy with a stop just below Rs.68.ملاحظة
A good move of more than 6% today. trading call given on March 22nd.
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