ENDURANCE trade ideas
Swing Trade Idea #221 : Long on ENDURANCEThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Endurance Technologies Ltd. Has More UpsideOver the short-term stocks that have been hit the hardest, like Endurance Technologies Ltd., are continuing to mean revert to the upside. Money is rotating out of Nifty Pharma, Nifty Fast Moving Consumer Goods, and other areas that have led the recent rally and is now flowing into other areas like Nifty Financial Services that have yet to participate to the same extent. In this chart we're looking at Endurance Technologies Ltd. confirming a failed breakdown and bullish momentum divergence by closing back above its April 9th, closing low near 585. As long as prices are above this level, then these conditions suggest further upside in the near-term and mean reversion towards our first target of 810. Additionally, it's our view that strength in some of the worst stocks like this is evidence of risk appetite among market participants and suggest further near-term upside for Indian Equities as an asset class.
ENDURANCE TECHNOLOGIES - WATCH OUT FOR A BREAKOUT
Passes basic trend test
Volatility Contraction Pattern - 28W 23/11 4T - in formation
Fundamentals :
YoY quarterly performance in uptrend
Qn-4 Qn-3 Qn-2 Qn-1
Sales 7.6% 11.9% 20.1% 29.1%
OP 14.5% 13.6% 12.9% 35.5%
NP 16.1% 11.6% 5.2% 39.3%
OPM 13.78% 14.14% 12.63% 14.44%
NPM 6.23% 6.15% 4.93% 6.53%
Free Float : 18%
Long suggested above 1335 if breakout is accompanied
by above average volumes.
Once buy triggered, stop at 1200.
Target 1500 plus.