Action construction Equipment(ACE) gave a breakout with good volume after consolidating for almost 1.5 years in a price range after a good run up. The script has given a pullback to the support levels of the Darvas box and nice thing is the pullback is with low volume which adds confidence. Looking at the graph the script can easily reach 400 levels with stop loss of 255 on daily closing basis. If we see the shot term trend(50dma) is now bullish and long term trend was flat which is also starting to incline upwards.
The stock has started making higher highs and higher lows which is a good sign
The stock has started making higher highs and higher lows which is a good sign
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I script has reached the target of 450 levels and next target is 525.
Why 525? If you play the idea till today, you will see a resistance line trending upside. The script is nearing that resistance line where it can take a pause and probably show some profit booking. Since we are riding this script from 250 levels its good to take some money off the table near major resistances.
Why 525? If you play the idea till today, you will see a resistance line trending upside. The script is nearing that resistance line where it can take a pause and probably show some profit booking. Since we are riding this script from 250 levels its good to take some money off the table near major resistances.
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Hi All,
Greetings of the day!
What a fantastic ride in ACE from levels of 250 since I shared the analysis in Sept 2022. its been a 7 bagger till now. The valuations seem a bit stretched so time to time some profit booking is good for portfolio from here.
Currently the script is in strong uptrend and till budget in July 2024 the script can continue to go higher. Keep riding this gem and keep a stop loss below 1400 on weekly closing basis.
Play/Load the entire analysis if you are checking on web page to uderstand the uptrend from initially discussed levels.
If you like my research and regular updates then do follow me here and like and share the research so others can also learn and we all grow together.
Cheers!
Greetings of the day!
What a fantastic ride in ACE from levels of 250 since I shared the analysis in Sept 2022. its been a 7 bagger till now. The valuations seem a bit stretched so time to time some profit booking is good for portfolio from here.
Currently the script is in strong uptrend and till budget in July 2024 the script can continue to go higher. Keep riding this gem and keep a stop loss below 1400 on weekly closing basis.
Play/Load the entire analysis if you are checking on web page to uderstand the uptrend from initially discussed levels.
If you like my research and regular updates then do follow me here and like and share the research so others can also learn and we all grow together.
Cheers!
Do like and follow if you agree to this analysis . This will keep me motivated to share more . Cheers!