BLUE DART EXPRESS | 100% returns | Breakout of 9-year resistance
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%
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%
Trade active
Trade is activeTrade closed: stop reached
Stop loss hit on close of weekly candle of 06-Jan-2025
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.