LOTUS CHOCOLATE - HIGH POTENTIAL AHEAD...LOTUS CHOCOLATE
CMP 51
STOP 39
TARGET 82 PLUS
Weekly Chart
1) Stock clears 200 period ema with huge volumes and currently consolidating with low volumes, possibly a penant pattern structure formation.
2) Stock has the potential to go towards 80 plus. An important fundamental reason apart from the above technical pattern is, globally cocoa price has begun its uptrend journey. Cocoa price has cleared a major resistance at $ 2225 in weekly chart preceded by a multiple bottom formation (4 bottom formation), possibly heading towards 2800/3000.
