NSE:GODFRYPHLP - 🚬 ➕🏪➕🍭 can it create a magicThis evergreen stock from the FMCG Sector listed in India is not just on the verge of a breakout after seven years but also building optionalities that can surprise us on the upside.
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✅ Weekly Closing close to 52-Week High
✅ Stock up close to 40% in the last couple of weeks
✅ Verge of the multi-year breakout
✅ FMCG sector
🤞~ Every green sector
🤞- Optionalities - Cloud kitchen (ready to eat)
🤞- Optionalities - Convenience store's growth
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❎Promoter's credibility
❎ Sin Stocks
❎ Not in explosive growth
BSE:GODFRYPHLP
GODFRYPHLP
Godfrey Phillips Possible BreakoutThe idea here is about Godfrey Phillips:
Godfrey Phillips India Ltd. operates as a holding company. It engages in the manufacture and marketing of tobacco related products. The firm operates through the following segments: Cigarette, Tobacco and Related Products and Retail and Related Products. Its cigarette brands include Marlboro, Red & White, Cavanders, Four Square, Stellar, and North Pole and Tipper.
My view is bullish short term(Swing trade) for the below observed technical factors.
Points as per TA on a Weekly Chart:
1.Contracting or Symmetrical Triangle formation on a weekly chart as per below:
2. Double Bottom formation on a weekly chart as per below:
3. Possible Bearish Gartley harmonic pattern in progress at the time of publishing as per below:
4. Ichimoku cloud Senkou Span A support established on weekly chart as per below:
5. Support established on 20 EMA & trading way above 200 EMA on a weekly chart as per below:
6. Trading above 20 & 200 EMA on daily chart.
7. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, weekly & monthly chart is Strong for an upward momentum at the time of publishing.
8. RSI is at 52.44 on a weekly Chart and 53.73 on daily chart at the time of publishing.
9. MACD above signal line on weekly & daily chart.
10. Hull Moving average and other moving averages on a daily,weekly & monthly chart is a strong buy.
11. ADX (Average directional index ) trend strength is at 10.69 on a weekly and 8.70 on a daily chart which indicates a absent or weak trend ( ADX between 0-25 is a Absent or weak trend).
Projected Target: provided in the chart.
Stop Loss: Provided in the chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
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GODFREY PHILLIPS The stock has been moving in a broad "Parallel channel" since 2016.
Currently it has been moving in a tight 'Parallel Channel' inside the broader Parallel Channel. The stock bounced back from the top of the channel and is heading south. Some can buy it at the lower end of the channel around 905 but in that case maintain a strict stop loss because a fall bellow the channel may also be explosive.
For safe investors, Buy only above 1100 for the targets mentioned. One would need patience here to hold on.
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