Action Construction Equipment: Inverted Head & Shoulders Breakou
"Action Construction Equipment: Inverted Head & Shoulders Breakout with Strong Institutional Support"
Stock: Action Construction Equipment Ltd. (ACE)
Analysis:
The stock is showing a bullish Inverted Head and Shoulders pattern on the charts, accompanied by strong volume activity, indicating a potential breakout. With robust financial performance and growing institutional confidence, the stock appears poised for a strong upward move.
Key Highlights:
Technical Setup:
Inverted Head & Shoulders pattern formation with volume confirmation.
CMP: ₹1,408.
Institutional Activity:
FII/FPI Holdings: Increased from 10.13% to 10.48% in Sep 2024 quarter.
FII/FPI Investors: Rose from 159 to 162 in Sep 2024 quarter.
Institutional Investors: Increased holdings from 11.93% to 12.10% in Sep 2024 quarter.
Financial Performance:
Quarterly Revenue: ₹788 Cr (14.4% YoY growth for Sep 2024 quarter).
Strong financials supporting the stock's growth prospects.
Analyst Target: ₹1,582.
Trade Plan:
CMP: ₹1,408.
Target: ₹1,582.
Stop Loss: ₹1,340 (below neckline support of the pattern).
Disclaimer:
This analysis is for educational purposes only and is not financial advice. Please perform your own research or consult a financial advisor before making investment decisions.
Stock: Action Construction Equipment Ltd. (ACE)
Analysis:
The stock is showing a bullish Inverted Head and Shoulders pattern on the charts, accompanied by strong volume activity, indicating a potential breakout. With robust financial performance and growing institutional confidence, the stock appears poised for a strong upward move.
Key Highlights:
Technical Setup:
Inverted Head & Shoulders pattern formation with volume confirmation.
CMP: ₹1,408.
Institutional Activity:
FII/FPI Holdings: Increased from 10.13% to 10.48% in Sep 2024 quarter.
FII/FPI Investors: Rose from 159 to 162 in Sep 2024 quarter.
Institutional Investors: Increased holdings from 11.93% to 12.10% in Sep 2024 quarter.
Financial Performance:
Quarterly Revenue: ₹788 Cr (14.4% YoY growth for Sep 2024 quarter).
Strong financials supporting the stock's growth prospects.
Analyst Target: ₹1,582.
Trade Plan:
CMP: ₹1,408.
Target: ₹1,582.
Stop Loss: ₹1,340 (below neckline support of the pattern).
Disclaimer:
This analysis is for educational purposes only and is not financial advice. Please perform your own research or consult a financial advisor before making investment decisions.
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