ALLCARGO LOGISTICS at Best Support !!This is the 4 hour Chart of ALLCARGO LOGISTICS.
ALLCARGO is having good law of polarity at 33 range .
Price action confirms a retest of the support zone at 33 range.
Price action indicates a bullish HH-HL formation.
If the support level sustains, the stock has the potential to make a new high.
Thank You !!
Allcargologistics
Allcargo Logistics analysisALLCARGO LOGISTICS
9EMA - 454.95
20EMA - 438.80
50EMA - 409.60
100EMA - 379.3
200EMA - 344.2
Good ROE(Last 5yrs) - 14%+
EPS has grown from a range of 6 to 42(current)
Strong cash flow
Strong ROCE(26) over the past 5yrs(15)
Improved Book value(148cr) compared to 5yrs back(80cr)
Zero pledged percentage
Recently created a new 52nd week high
Stock P/E(11) vs Industry P/E(25)
This Stocks benefits from lower Crude Oil prices
An undervalued stock which has great potential to grow
Technically Strong Stock
RSI showing strength
Continuation of good volumes for this stock could end up with a new HIGH
Recommended for a buy at CMP or on dips for a target of 490+ with a stop loss of below 455
ALLCARGO LOGISTICSALLCARGO LOGISTICS
ALLCARGO LOGISTICS is forming a good pattern, there is a good accumulation happening at current levels.
ALLCARGO LOGISTICS is Symmetrical chart pattern breakout wait for entry about of confirmation candle.
This channel is for only educational purpose. Any Profit/loss, I am not responsible.
Sector: Transportation
Industry: Marine Shipping