BLUE DART EXPRESS | 100% returns | Breakout of 9-year resistance

21 août 2024

BLUE DART EXPRESS

Monthly time frame
Breakout from 9-year white resistance trend line
Breakout from perfect cup & handle pattern
Stock riding above 20-, 50- & 200-month moving averages
RSI > 60, indicating bullish momentum
MACD crossover done and is above the 0 line, indicating bullish momentum
Volumes have been good since Apr 2020, implies heavy buying

Weekly time frame
Retest of the white resistance trend line almost complete
Stock riding above 20-, 50- & 200-week moving averages
RSI > 60, indicating bullish momentum
MACD above the 0 line, indicating bullish momentum

Daily time frame
Stock consolidating along the white resistance trend line
Stock has made a higher low (Dow theory)
Stock price converging along 20- & 50- day moving averages, breakout possible
RSI > 50, indicating bullish momentum
MACD is about to cross the 0 line, indicating momentum build up

Conclusion
Entry: 8,000
Stop Loss: 6,700
Target 1: 9,600
Target 2: 12,150
Target 3: 16,275

Fundamentals
ROCE = 19.2% {Ideal > 15}
ROE = 22.7% {Ideal > 15}
Stock PE (65) = Industry PE (65) {Stock not overvalued}
Int Coverage = 5.81 {Ideal > 2}
CF Operations / EBIT = 1.83 {Ideal > 1}
Debt to equity = 0.78 {Ideal value < 1}
Promoter stake has remained consistent over the years > 75%

30 août 2024

Transaction en cours

Trade is active