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.
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