Vaibhav Global – Looking good after this week’s price movement.
- Stock is on the verge of a 2 year long consolidation break out.
- Volume build up in the past few weeks is encouraging and suggests that buying interest is back in the stock
- The price has formed a nice base near the 20 WEMA since Aug, 2023. It broke out of this base this week.
- The zone from 500 to 530 has acted as a multiple support and resistance zone in the past. A weekly close above this zone will be very positive.
- Indicators such as the Mansfeld Relative Strength and Minervini Trend Template are positive and suggest that the stock is in Stage 2 up trend. The runway to the previous ATH is long and provides possibility of decent returns in the coming quarters.
Disclaimer: Not invested yet. Planning to buy above 530.
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