Astral buying opportunity for swing

8 ก.ย. 2023

Stock: Astral Pipes
CMP : 1910

Fundamentals:

Good YOY Growth.
Good ROE (18%) AND ROCE (24.8%).
Company is almost debt free.
Company has delivered good profit growth of 21.0% CAGR over last 5 years.
High P/E ratio (Only Negative point)

Technical:
Astral is currently consolidating on support and might breakout from here.
Other factors that indicate a possible upside move:
1) RSI 43 indicating neither overbought nor oversold stock.
2) Trend line Support
3) Reversal from 50 EMA like last time
4) Morning star formation on support

Target in near future:
T1: 1950
T2: 2000
T3: 2050

Entry: Crossing above morning star green candle on daily chart
Stop Loss: On break of support.