BEPL- interesting consolidation breakout on monthly charts
Bhansali Engineering Polymers Ltd. an interesting chart and a long term consolidation breakout
1. Stock breaking out of long term consolidation zone i.e. [ Nov-2020 to June 2024] on monthly chart and crossed its all time high resistance zone of 2017 i.e. 122-124 levels. (which can act as strong support now)
2. RSI on all time frames (DWM) above 60
3. Company is almost Debt free
4. Company has a good return on equity (ROE) track record: 3 Years ROE 23.4% and Company has been maintaining a healthy dividend payout of 92.4%
Can be good risk reward to buy near support or on dips and dips only
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. Stock breaking out of long term consolidation zone i.e. [ Nov-2020 to June 2024] on monthly chart and crossed its all time high resistance zone of 2017 i.e. 122-124 levels. (which can act as strong support now)
2. RSI on all time frames (DWM) above 60
3. Company is almost Debt free
4. Company has a good return on equity (ROE) track record: 3 Years ROE 23.4% and Company has been maintaining a healthy dividend payout of 92.4%
Can be good risk reward to buy near support or on dips and dips only
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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