Everest Kanto Cylinder – Stock coming out of a downtrend.
The stock was in a consolidation phase for a long period after trending downwards from 291 to 66.
Stock more than doubled from its low with multiple instances of high volumes/delivery. Stock attempted to break out of the consolidation phase in August 2023 but went back into the consolidation after reacting negatively to June 2023 quarterly earnings.
Stock again broke out in November 2023 on very high delivery (3rd highest delivery since 2011). The current price offers a good risk-reward entry point near the breakout retest level of 125.
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