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Bodal chemicals - possible double bottom breakout?

Discussion in 'Technical Analysis' started by bhat64, May 18, 2018.

  1. bhat64

    bhat64 Apprentice

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    bhat64, May 18, 2018
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  2. shabbir

    shabbir Administrator Staff Member

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    Use candle sticks because looking only at the average price won't help too much.
     
    shabbir, May 18, 2018
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  3. shabbir

    shabbir Administrator Staff Member

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    BODALCHEM_Daily_18-05-2018.png

    The W is ON but a breakout above the intermediate high will be a good entry point.
     
    shabbir, May 18, 2018
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  4. madhuvarsha

    madhuvarsha Member

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    How are the fundamentals of this company?
     
    madhuvarsha, May 18, 2018
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  5. chaitanya_mella

    chaitanya_mella Contributor

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    and the intermediate high would be the 200 day moving average?
     
    chaitanya_mella, May 18, 2018
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  6. shabbir

    shabbir Administrator Staff Member

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    No. 145 which is the high of the intermediate leg of the W formation.
     
    shabbir, May 19, 2018
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  7. shabbir

    shabbir Administrator Staff Member

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    The debt to equity ratio is tough higher and am not comfortable with it. Also promoter stake for such a small cap is too low for me to consider it.
     
    shabbir, May 19, 2018
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  8. chaitanya_mella

    chaitanya_mella Contributor

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    Right. Got it. Thank you


    Sent from my iPhone using DIY Technical Analysis mobile app
     
    chaitanya_mella, May 19, 2018
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  9. bhat64

    bhat64 Apprentice

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    Should I be looking at the fundamentals of I taking position here as a trading bet basis chart patterns


    Sent from my iPhone using DIY Technical Analysis mobile app
     
    bhat64, May 19, 2018
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  10. shabbir

    shabbir Administrator Staff Member

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    I do. I don't trade in stocks that aren't worth investing. I didn't used to but now has done it just to avoid too many stocks for trading.
     
    shabbir, May 19, 2018
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