Obverse this interesting stock. Has been hitting back to back lower circuits for 7 trading sessions and started reversing with strong candle hitting upper Cricut today.
In my observation this stock has taken SMA 50 support most of the time also and SMA 200 when it can't pull back. Even though there is no real bad financial results this stock took heavy correction after giving 3x profits in just 1 year.
I got stuck in this stock after making a very very bad entry at the peak :). But I kept it holding and averaged at SMA 50 and SMA 200 and looking for 4800-5000 target with a short term target of 3810.
My reason for holding the position and average on dip would be because of pure technical reasons (RSI, MACD, Volume, Support levels) and strong financials
I don't see any negative reason except that this is a low liquidity stock may not be able to exit at will.
In my observation this stock has taken SMA 50 support most of the time also and SMA 200 when it can't pull back. Even though there is no real bad financial results this stock took heavy correction after giving 3x profits in just 1 year.
I got stuck in this stock after making a very very bad entry at the peak :). But I kept it holding and averaged at SMA 50 and SMA 200 and looking for 4800-5000 target with a short term target of 3810.
My reason for holding the position and average on dip would be because of pure technical reasons (RSI, MACD, Volume, Support levels) and strong financials
I don't see any negative reason except that this is a low liquidity stock may not be able to exit at will.