BUY BCGBuy Opportunity for BCG
This is my personal analysis. Buy at the market price and have the opportunity to earn from 20% to 30% profit in upside
Buy 9-10
Target – 12 - 14 - 16
Stop loss - no data
Bcg
Strong BUY BCG cmp 17.45, target 22.50/26.50 in few days Brightcom Group Ltd(BCG) offers digital marketing solutions to businesses, agencies and online publishers worldwide.
Services Provided:
The Company is divided into three major divisions:
a. Ad-Tech and Digital Marketing:
The services include Video Advertising, Display Ads Marketing, Performance-based Marketing, Search Marketing, Email Marketing and Lead Generation, Afliate Marketing, Social Marketing, Mobile Marketing, Niche Campaigns, Digital Trafc Management, Ad Serving
b. Software services:
The Company’s software services include developing customized technology platforms to solve specific needs of clients primarily around digital media and other related offerings
c. Future technologies:
The company’s future technologies division consists primarily of the Company’s LIFE product and developments in artificial intelligence, machine learning and Digital Out of Home(DOOH) advertising.
Revenue Breakup - Q1FY24
Advertising Revenue : 94%
Software Revenue : 5%
Other Revenue : 1%
Interim Order By SEBI
An Interim order was passed by SEBI on 22.08.23 related to concerns regarding preferential allotment made by the company in FY20 & FY21. They suspected that money raised were given as loans and advances to its subsidiaries. It was also alleged that proper disclosures were not made in the Annual report and also disclosures related to preferential utilisation were not made. Post this the entire management of Brightcom has stepped down.
Forensic Audit:
SEBI ordered Forensic Audit of company on 16/09/2021 and Deloitte Touche Tohmatsu India LLP were appointed as forensic auditor w.r.t the financial statements from FY 2014-15 to FY 2019-20. The said Forensic Audit is under progress and the final outcome of the investigation is yet to come by the time of certification
Market Cap - ₹ 3,513 Cr.
Book Value - ₹ 34.7
Price to book value - 0.51
Debt - ₹ 0.00 Cr.
EPS - ₹ 7.01
ROCE - 30.9 %
Stock P/E - 2.51
Industry PE - 34.1
Currently the stock is terribly undervalued and we feel all the negatives is deeply discounted and technically it completely bottomed out at this valuation. We have recently the strong buying appearing and there is a good buying pattern emerging. So we strongly suggest a buy in BCG shares at 17.45 and buy till 18.5 for a target of 22.50 and 26.50. Valuation wise even at 26.5 its a buy but technically these are the resistance levels appearing. Stop loss 16
BCG READY TO SHOOT!!!
Price has completed Wave 1 and Wave 2 also,
Wave 2 has retraced Wave 1 by less than 100 % which suffices the retracement rule of Wave 2 as per the Elliott Wave Theory,
As per Elliott Wave Theory Wave 3 extends by 161.80% of Wave 1 accordingly the Upward projection for this stock is 206.40 measured as per Fibo Extension.
Currently Price has formed a first Monthly Fresh Demand and has given a closing above the EMA which also confirms gain in Buying Power.
We have the Risk defined as per the Monthly Demand and Target derived as per the Wave 3 Fib Extension.
relief will come only from 26-28 levels relief will come only from 26-28 levels . these levels will provide exits to people who are stuck . from 26-28 levels a pull back of 25-30% may come . from these levels pull back or reversal may come .probabilities are high for pull back rather than reversal.
Brightcom a good buy after A retraceThis stock looks like a textbook Inverse H&S pattern. Wait for price to retrace back to the neckline around 5.3-5.45. Target: 7.5-8. Good Luck!
ETH Long setupEstimated entry range: $172.5-171.75
Invalidation level: $161.3
Estimated Take Profit Range: $189.9-195.3
Ascending Triangle formation. Price slowly suppressing the resistance on the 4H chart.
Test of support level after breakout will trigger a Long signal.
Volume keeps rising and our previous note about distribution takes place.
More likely 4H Supply will reject the price immediately.
Litecoin (LTC USD) I have some very nice potions on LTC watching this triangle
LET IT CONSOLIDATE :)
