#FILATEX 46.90 Upside 17% Recommended Buy - Rachit SethiaFILATEX 46.90
TGT 55
SL 43
TF < 6M
Return > 17% ++
RR > 2.5
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
PSB
140 % upside potential in Punjab and Sind BankCurrently price is ranging around important key level.
Multiple patterns are forming on this chart such as triangle, pole & flag and a big cup with handle.
The huge volume activity since November 2022 till now indicates more towards its upside potential.
Only 1.75 % of the shareholding is with DII & Public, remaining 98.25 % is retained by the promoters.
Today price closed just above the yellow trendline resistance with huge volume.
Good to buy at CMP with Stop Loss at 30.70 for the following targets
Short term swing target of 50+ (50% ROI with 1:6.4 R:R)
Long term positional target of 80+ (140 % ROI with 1:18 R:R)
Reason to trade is turn around is happening as the fundamentals are improving since FY '22.
Do your own due diligence before taking any action.
Peace!!
REITs could lead the next upswing, $PSB is showing itAfter NYSE:PSB topped in mid-April has been forming a long base. I see a "low cheat" with a breakout above $168.88 with a good follow through above $165 resistance zone. Today is making that second breakout and could be a good day to get in the stock. I'll be waiting for volume confirmation.
NYSE:PSB has a IBD relative strength rating of 77. Is not the minimum 80 that I like to see, but still the chart is looking very good. Another stock in the same industry that is going for the breakout is NYSE:WY . Is currently trading at $38 and the pivot buy zone is at $42.
The only thing that I don't like is that AMEX:PW , which has the #1 rank in the industry by IBD, already made the breakout from its base and last week made a hard throwback. If this industry leader doesn't holds above $49 could be a bad sign for the rest.