We have a clear breakout with good volumes on the weekly chart for GNFC. We can see a trend reversal pattern of Inverted Head and Shoulders on the chart. GNFC brokeout of H&S pattern during the last week of Feb. We can clearly that volumes kept increasing as the pattern developed and finally brokeout of the neckline. GNFC consolidated after the initial breakout for the entire month of march and april and now has given out a fresh weekly breakout. I expect GNFC to continue its upward trend and reach its all time high in next few months, It will likly get additional support from sector tailwinds as agrochemical stocks arecurrently in uptrend. Take an exit only if GNFC closes below 300 on weekly basis.
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anandgnk
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target kya hoga sir??
tarangmht
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@anandgnk,
Hi Anand. This is a long Term Investment bet so Target nahi hai. You can keep a trailing stop and exit if price closes below its 20EMA on the weekly chart. Having Said that as per H&S pattern the target is close to the the all time high and i expect the stock price to reach there in next few months if market remains bullish.
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