Punjab Chemicals and Crop Protection log chart from 2008.
I won’t write about fundamentals as it’s well covered on VP especially by @harsh.beria93 and @sensaptarishi
But in short over long term it looks like topline expansion, margin expansion and rerating candidate.
Looks like in May’2021 stock broke out of a triangle pattern and retraced after making a high in Aug’2021. Retraced exactly at the trendline connecting the tops from 2008.
Has been consolidating in a small range since then.
Looks like a potential Flag pattern formation too and breakout above the flag channel may result in a trend change.
Current range maybe good levels to accumulate followed by additions on break out.
@hitesh2710 Would you please share your views on this chart.
Thanks.
Discl: Invested.
| Subscribe To Our Free Newsletter |
