ORIENTPPR Orient Paper All time high breakout after 6 years
Orient paper is showing strength by entering into all time high levels. The price movement is supported by volume which is most important. The price has consolidated nicely in the zone of 35-50 levels for almost 1 year now. This consolidation near all time high level zone gives additional confidence and price getting support and is ready to move higher. The moving averages are nicely aligned indicating trend.
Paper stocks are showing strength which is good sign for gaining additional confidence.
Based on the Fibonacci levels 65 and 90 are the levels where some profit booking can be seen.
based on the height of the base formed for last 6 years levels of 75 can be seen.
In all 65, 75, 90 are the levels as targets and
Stop loss based on appetite can be below 42 on weekly closing basis
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Paper stocks are showing strength which is good sign for gaining additional confidence.
Based on the Fibonacci levels 65 and 90 are the levels where some profit booking can be seen.
based on the height of the base formed for last 6 years levels of 75 can be seen.
In all 65, 75, 90 are the levels as targets and
Stop loss based on appetite can be below 42 on weekly closing basis
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Note
Hi everyone,Hope you are gaining from this analysis :)
script is up 16% today and is just showing strength ;)
Keep riding this gem
Happy trading!
Trade active
Hi everyone,Greetings of the day!
After a nice consolidation near the breakout region , this script is ready to make new highs and can soon show all time high levels of 80+
GST on packaging materials is brought down to 12% which will improve the margins of the company. Also India is focussing on exports and consumption is increasing in the country. The packaging business should do well.
There are hardly any negative triggers for the company. Hence the probability of breakout is high now.
Also the consolidation in a range of 40 - 60 has lasted for almost a year and chart has shown formation of triple bottom which can take the script quickly to 80+ levels in no time.
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.