NaranjCapital

NaranjCapital

The stock has been in consolidation since August 2020, forming an Inverted Head & Shoulder pattern. Recently, it broke out above the neckline and is attempting to sustain above the 200 level. Currently trading at 210, the stock has the potential to surge to 500 levels in the next few years. However, the breakout lacks strong confirmation, as a significant bullish...

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Corcept Therapeutics is making waves in the booming U.S. biotech scene, with its stock surging 46.2% over the past six months. The company, known for its Cushing's syndrome drug, Korlym, reported a staggering 39.1% year-over-year sales increase, reaching $310.6 million in H1 2024. With a market cap of $4.42 billion, Corcept is actively developing new treatments...

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● Following a significant rejection around the 46.5 level, the stock price dropped nearly 50%. ● However, it found support near the 24.3 level and staged a comeback. ● After nearly three years, it has now broken through its previous major resistance and is currently trading at an all-time high. ● There are expectations that this upward momentum will continue,...

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Short Term Trading Advice by Naranj Capital Buy Royal Caribbean Cruises ● Buy Range- 228 - 233 ● Target- 245 - 248 ● StopLoss- 222 ● Potential Return- 5-6% ● Duration- 12-14 Trading Days

NaranjCapital

◉ Introduction The relationship between bond yields and stock prices is crucial in understanding financial markets. Generally, bond yields and stock prices exhibit an inverse relationship, meaning that as bond yields rise, stock prices tend to fall, and vice versa. This dynamic is influenced by several factors, including opportunity costs, corporate financing...

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Short Term Trading Advice by Naranj Capital Buy GoDaddy ● Buy Range- 182 - 186 ● Target- 195 - 197 ● StopLoss- 177 ● Potential Return- 5-6% ● Duration- 12-14 Trading Days

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◉ Abstract Opera Limited (OPRA) presents a compelling investment opportunity, boasting an attractive valuation with a P/E ratio of 10.1x, significantly lower than the peer average of 66.5x. The company demonstrated strong financial performance in FY23, with 20% revenue growth reaching $396.8 million, accompanied by impressive cash flow growth of $82.8 million....

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● Silver continues to exhibit a robust uptrend, having recently touched an all-time high of 34.9 before retracing to its key support zone around 29.8. ● Following a successful bounce off this level, the metal is now regaining momentum, positioning itself for further gains. ● Notably, the immediate resistance level – aligned with the 50% Fibonacci retracement, just...

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◉ Abstract The US Dollar Index (DXY) and gold prices have a historically inverse correlation, with a stronger dollar typically reducing gold demand. Key drivers of this relationship include inflation, geopolitical tensions, and interest rates. With a 73-95% negative correlation observed over time, investors should note the current market outlook: the DXY is...

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Albemarle Corporation NYSE:ALB ● On the monthly chart, the stock is bouncing back from a long-standing trendline support that has held firm over the years. ● The daily chart reveals the emergence of an Inverted Head & Shoulders pattern following a significant decline. ● With a recent breakout, the stock appears poised for a potential trend reversal. ●...

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Short Term Trading Advice by Naranj Capital Buy Amneal Pharmaceuticals ● Buy Range- 8.5 - 8.75 ● Target- 9.1 - 9.25 ● StopLoss- 8.25 ● Potential Return- 5-6% ● Duration- 10-12 Trading Days

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◉ Abstract The US coconut water market, projected to grow at 18.10% CAGR to $5.12 billion by 2029 from $1.89 billion in 2023, presents significant opportunities. Vita Coco, the market leader, demonstrates resilience amidst supply chain challenges. Notably, industry giants Coca-Cola and PepsiCo, which previously ventured into this space with ZICO and O.N.E.,...

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S&P 500 ● The index retreated from its all-time high of 5,880, initiating a downward trend. ● A breakdown below the Rising Wedge pattern has been confirmed. ● Key support levels to watch: ➖ Immediate support: 5,670 ➖ Strong support: 5,400 Nasdaq Composite ● The index has hit an all-time high near the 18,750 level before beginning to retreat. ● After breaking...

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Short Term Trading Advice by Naranj Capital Buy Universal Display Corporation ● Buy Range- 205 - 210 ● Target- 220 - 223 ● StopLoss- 200 ● Potential Return- 5-6% ● Duration- 12-14 Trading Days

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1. Tesla (Weekly Timeframe) NASDAQ:TSLA ● A symmetrical triangle pattern is clearly visible on the weekly chart. ● Following a recent breakout with strong volume, the price is likely to rise significantly. 2. Lam Research Corporation (Weekly Timeframe) NASDAQ:LRCX ● After breaking out of the cup and handle pattern, the price surged to an all-time...

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● After breaking out from the Rounding Bottom formation, the price soared to an impressive peak of $34.87. ● Subsequently, a consolidation phase unfolded, leading to the development of the Head & Shoulder pattern. ● We expect a swift drop once the neckline is breached, potentially retracing the price back to its earlier breakout point. Key levels to watch ●...

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The price previously formed a Falling Wedge Pattern, and after breaking out, it entered a phase of consolidation. This led to the emergence of a Symmetrical Triangle pattern on the chart, and with a recent breakout, silver is now trending upward. Key level to watch First target - $32.2 Second target - $33.0 It is recommended to set a strict stop-loss just...

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In December 2021, the stock price hit an all-time high near the 142 mark, after which it experienced a significant drop. Following this decline, the price found support around the 90 level and began to recover. Last week, the stock managed to break through the upper boundary of the descending parallel channel, setting the stage for additional upward momentum. ...