Can this be called a valid flag formation in Pearl Global on the weekly chart? It’s been consolidating after a sharp run up in October. It ran up from 550 in June to 1450 in October and has been consolidating in a tight range between 1200-1300 with drying up of volumes. Fundamentally, they have produced quite a few good quarters, with their Bangladesh unit breaking even in the first year itself. So far they’ve mostly followed an asset light model with factory partnerships – recently launched their Guatemala factory to cater to their US clients. Supplies most fashion marquee brands and wholesale suppliers in US. Still seems reasonably valued to me.
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