🚀 Stock Alert: MTL
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Range: 550
🎯 Targets : 600 (9.09%)
⚠ Stop Loss: 525
🏅 Risk & Reward Ratio = 1 : 2
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: YES
📰 Technical View: Break out and retest is observed from the trend line as shown in the technical chart. Long position can be considered around 550 for the target of 600. Stop loss can be placed below 525.
📰 Fundamental View: In Q1 FY24, Millat saw strong performance with 7,187 units sold, a 347% increase in profit, and a 48.27% rise in sales compared to last year. Revenues soared by 199%, reaching PKR 22.62 billion. Gross margins improved to 23.43%. With relaxed import regulations, sales are expected to continue growing. Recent data shows a 10% increase in units sold in Q2FY24. Expected EPS for 1HFY24 is PKR 27.5, with a likely dividend of PKR 25 per share. Millat's market dominance and focus on the agri-economy make it an attractive investment, especially if prices dip.
📈 Investment View: Technically Bullish 📈
🔍 Quick Info:
📈 Entry Range: 550
🎯 Targets : 600 (9.09%)
⚠ Stop Loss: 525
🏅 Risk & Reward Ratio = 1 : 2
⏳ Nature of Trade: Short Term (Scalping)
📉 Risk Level: Medium
☪ Shariah Compliant: YES
💰 Dividend Paying: YES
📰 Technical View: Break out and retest is observed from the trend line as shown in the technical chart. Long position can be considered around 550 for the target of 600. Stop loss can be placed below 525.
📰 Fundamental View: In Q1 FY24, Millat saw strong performance with 7,187 units sold, a 347% increase in profit, and a 48.27% rise in sales compared to last year. Revenues soared by 199%, reaching PKR 22.62 billion. Gross margins improved to 23.43%. With relaxed import regulations, sales are expected to continue growing. Recent data shows a 10% increase in units sold in Q2FY24. Expected EPS for 1HFY24 is PKR 27.5, with a likely dividend of PKR 25 per share. Millat's market dominance and focus on the agri-economy make it an attractive investment, especially if prices dip.
Comment:
Good movement. Still recommended to hold for its target of 600.
Trade closed: target reached