Apex Frozen Foods Ltd (Apex) is an integrated producer and exporter of processed shrimps based in Andhra Pradesh, South India. The company has a capacity of 29,240MT.
In Q3-FY23, Apex experienced a 1% year-on-year decline in revenue due to reduced demand in key export markets such as the US and EU, as well as a supply shortage of specific-size raw...
CMP 266
A 3 VCP has been formed and is trading at the resistance.
It is also within the 'Ascending Triangle' .
A GoldenCross is also being awaited soon.
On the upside the potential of gains is good at 19.5% and 28% above the resistance of 330.
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APEX FROZEN - OBSERVE PRICE ACTION NEAR 175-170 levels
The structure of stock still looks weak, so currently its better to avoid any trading in it, though it has created a good support zone near 170 levels, hence any pullback towards this level has to observe carefully to find any trading opportunity in the stock
