Morepen: Less Pain? Good risk reward ratio, Continuous pattern break out...1st target - 55, 2nd - 60, third target 75, this is short to med term. for long term the counter look bright
MOREPENLAB trade ideas
MOREPEN LONGOver here we can see that the stock is coming out of a well respected weekly Fairvalue gap made near support levels also - increasing conviction. TP1 is quite near however the final target is also placed on the chart for anyone to be guided. I have not attached a Stop loss here the market conditions right now are volatile, however please do manage your risk properly and have a strict stop loss upto your risk management plan. This is not a buy sell reco. Furthermore, the stock is making a bullish HH and LH structure indicating a bullish trend for the stock. The fundamentals are also strong and over all seems like a higher probability trade. This is not a buy sell reco NSE:MOREPENLAB
MOREPENLAB WEEKLY CHARTMOREPENLAB WEEKLY CHART
This stock has witnessed a breakout @ 42 levels, as marked by red ellipse.
Its only an observation & not any suggestion.
MOREPENLAB Weekly ChartRound Bottom Formation
Support 48.80 break
RSI Above 60 Daily / Weekly / Monthly
Volume Growth
Moving Averages in Line 21/50/200
Expected Level 75
MorepenlabStock name = Morepen Laboratories Limited.
weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
Morepen Laboratories Down-sloping Curved Trend Line BreakoutMorepen Laboratories has broken out of it's Down-sloping trend line after a Fall of 50% from the Highs.
Supply has Exhausted and Demand is kicking in.
No Time To Trade 🤔 !! Break the trend line... After a massive rally.. and coming to some support....
MOREPENLAB BREAKOUT WITH HUGE VOLUMESMorepenlab has given a breakout above a very important recent high with good strong volumes in a very bearish market. It may have legs to go till 52-53 in the coming weeks.
The high of the current daily candle needs to break first.
Disclaimer - Not a trading advice or buy/sell call, only for educational purpose.
Morepen all set for 60-80-100 ?Morepen Labs was in a descending channel for some time, if this week closes breaking the channel, we might see upmoves
Morepan LabMorepen Laboratories Gets US FDA's Approval for Anti-Allergy Drug in India
expected to touch trend line @ 55 (round bottom form)
MOREPEN has a target of 47.8stock has a target of 47.8, which is the confluence of 50% fib. and D point of CYPHER pattern
MOREPEN has a target of 47.8stock has a target of 47.8, which is the confluence of 50% fib. and D point of CYPHER pattern
#MorepenLab #pharma #cnxpharma #cipla #lupin #sunpharma #sparc#MOREPENLAB
NSE: MOREPENLAB
CMP 31.70
Target 42+
SL 27.5
RR >2.5 times
Return > 30%
Timeframe < 6M
NSE:MOREPENLAB
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
MOREPEN is an excellent buy!stock is at confluence of S<>R, 78.6% FIB. and channel supports......a wonderful buy!
Morepen labs Daily timeframe NSE:MOREPENLAB
Morepen labs Daily timeframe Bat/gartley strong pattern.
Good risk to reward
Morepen Lab - Multiyear Breakout retestMorepen Lab - Multiyear Breakout retest. Long term investment opportunity.
Morepen Laboratories LimitedPROS
Company has reduced debt.
Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 41.36% CAGR over last 5 years
Promoter holding has increased by 3.84% over last quarter.
CONS
Stock is trading at 5.40 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
MOREPENLABThe stock is just fool us when we bought & it fell down now it's our turn I am adding some quantity today.. now I am hoping to double my money. lets see Stock will shine or make fool again.....
DISCLAIMER :
**I am not SEBI register..**
**This is not an investment or Trading advice. This is Just for discussion/paper trading purposes.**
Morepenlab Buy for a Long-term. it will be make double your money only 8-10 point stop loss and 50-60 point reward,
Fundamental & Technical is very good...Buy and Forget for it would be MULTIBAGGER in upcoming time.
