Godfrey Phillips - Care to take a puff of this stock ?
Technical reasoning for a Bullish setup :
> Quarterly charts represent a 6 year base building in this cigarette company from 2016 to 2021 where the stock has done nothing
> Apr 2020 to June 2021 - 5 quarterly candles just showed sideways action in the counter and finally a breakout to retest the all time high resistance happened in July to September quarter
> As the saying goes the bigger the base, the longer in space - A successful breakout & close above overhead resistance of 1400 zone can attract further momentum taking the stock to 2000 in coming months.
> Depending on the time frame , risk can be defined at 1100 (for short term) and 950 (for long term)
> Disclosure : I bought stake @ 1319 on Nov 3 , 2021
Cigarette smoking is bad for health, but will it be bad for my portfolio ? Only time will tell
> Quarterly charts represent a 6 year base building in this cigarette company from 2016 to 2021 where the stock has done nothing
> Apr 2020 to June 2021 - 5 quarterly candles just showed sideways action in the counter and finally a breakout to retest the all time high resistance happened in July to September quarter
> As the saying goes the bigger the base, the longer in space - A successful breakout & close above overhead resistance of 1400 zone can attract further momentum taking the stock to 2000 in coming months.
> Depending on the time frame , risk can be defined at 1100 (for short term) and 950 (for long term)
> Disclosure : I bought stake @ 1319 on Nov 3 , 2021
Cigarette smoking is bad for health, but will it be bad for my portfolio ? Only time will tell
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