Confidence Petroleum Breakout
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on RSI close below 45 (if you are a short-term trader) or RSI close below 30 (if you are a long-term investor (or use any other method of your liking)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After a consolidation since January 2022,
CONFIPET has given a breakout today. Buy with a stop just below ₹74. (One can use the low of the previous bar/supertrend indicator/fixed percentage from the buy price as stop loss also)
Strengths: -
1. Debt to equity at 0.25 (less than 1 is good), Interest Coverage at 7.55 (greater than 3 is good), Current Ratio at 2.49 (greater than 1.5 is good)
2. Debtor days have improved from 23.7 to 17.4 days
3. Promoter holding is continuously increasing since Dec'19
Weaknesses: -
1. Company has a low return on equity of 12.6% over last 3 years
2. Promoters have pledged 30.6% of their holding
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on RSI close below 45 (if you are a short-term trader) or RSI close below 30 (if you are a long-term investor (or use any other method of your liking)
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After a consolidation since January 2022,
CONFIPET has given a breakout today. Buy with a stop just below ₹74. (One can use the low of the previous bar/supertrend indicator/fixed percentage from the buy price as stop loss also)Strengths: -
1. Debt to equity at 0.25 (less than 1 is good), Interest Coverage at 7.55 (greater than 3 is good), Current Ratio at 2.49 (greater than 1.5 is good)
2. Debtor days have improved from 23.7 to 17.4 days
3. Promoter holding is continuously increasing since Dec'19
Weaknesses: -
1. Company has a low return on equity of 12.6% over last 3 years
2. Promoters have pledged 30.6% of their holding
Disclaimer: I am not SEBI Registered. Do trade or invest at your own risk, I am not responsible for any losses and won't claim anything from your profits either. Take financial advice from your advisors before jumping in.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.