PATEL ENGINEERING: DOUBLE YOUR MONEY

PATELENG broke out and gave a retest from its 30 month old base.
It was in strong downtrend and formed a base, from which it broke out.

The volume expansion is exponentially high, showing increasing interest in the stock.
It is a bit risky to enter 100% of your position at CMP, as may retest the trendline again because of the huge wick in last week's candle.

Wait for some sort of entry signal on daily timeframe and add more quantity on dips. Buy and hold for long term. Could be a potential multi-bagger.

Yorum:

UPDATE: Good momentum building up. Enter rest of position now.