Navkar Corp
CMP 55
Should do well in the long run as the stocks that come and stay above 40 months moving average after gap of many years, they indicate that something has changed structurally in the company (unless they fall back belwo 40 MEMA that meand they were pumped and dumped)
On monthly chart, it is trading above 40 MMA last last 7-8 months .That is a positive sign for lonf term.
In short term, it is showing the signs of making stage 1 base ( trading up-down over 40 WEMA) and as per EW ,it is in wave ii of larger wave 3.
As of now , it seems to be in consilidation zone.
If it has to run, it should first cross 70 and then its recent ATH of 90.Once the wave iii starts, one can expect an intial target of 155 ( iii=i)
Weekly Chart
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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