As the Sensex hit new all time highs and we got a decent participation from the midcap stocks as well, we look at the stocks which can be potential multi-baggers going forward
The stock has broken out of the consolidation pattern on the weekly time frame. The results of the stock were better than anticipated with same store sales growth higher than what people had anticipated them to be. The stock has been forming a very nice consolidation pattern known as the symmetrical triangle and the breakout has been confirmed on the weekly chart. The stop for the long trade can be kept at 1275.
The above is the monthly chart of siemens. As we can see the stock has broken out from a consolidation range on the monthly timeframe. Such breakouts generally portend a multi-year bull market in the counter. The stocks is currently trading at the levels of 1650 and we can see 2,500 over the next year or so. This is definitely a high probability scenario and its worth keeping an eye on the stock.
Gas stocks have been in favour recently and this one merits attention for several reasons.
- Head and shoulder consolidation breakout
- New all time highs show clear blue skies ahead
- Sector in a bull market of its own
The above reasons justify the stock to be considered as an investment story for at-least the next year or so.
DISCLAIMER - The above is not an investment advice.