JTEKTINDIA - RARE CHART WITH 6 CONTRACTIONS & BREAKOUT

1 ביולי

Hi All,

This idea is about JTEKT India Ltd

Fundamentals

Market Cap - 5661 Cr
Stock PE - 55
ROE - 13.6%
ROCE - 17.3%
Promoter Holding - 75%
MktCap/Sales - 2.5
Quick Ratio - 1.12
D/E - 0.14

Technicals

Rarely it is observed that a stock goes through 6 contractions before going for a breakout from a rising wedge channel. This is a weekly chart & only meant for long term investors.

Each contraction is marked by how much percentage the stock corrected before making a top again. Over 5 years the stock has made multiple High tops and high lows and now attempting to move out of the channel

This chart can be used for education purpose also to understand the dynamics of supply and demand

Happy Trading,

Thanks,
Stock-n-Shine