@Mr. X wrote:
it's time collect for next run.
Yes, im keep collecting
I collected today as well. I think price is settling at Rs.7.10-Rs.7.30 before the next run. Good consolidation happening yesterday and today. With good volumes.
*Not a buy or sell recommendation.
HOW TO DECIDE A SHARE IS AT CONSOLIDATING LEVEL?
A share which consolidates usually have a support and a resistance level and does not give opportunities for trading. It will be trading with a small price gap. (ideally 10 cents to 20 cents)
After the consolidation it will breakout. It can be either positive or negative and when you are investing at a consolidating stock you need to be careful and study the fundamentals of the company so that you know whether this has a reason to go down or up.
So when it comes to GLAS, Yesterday within first half hour price went to Rs.6.70 as @Engineer
predicted due to profit taking of retailers who might have purchased below Rs.5.
Then it climbed to Rs.7.30 where a resistance is seen. Due to resistance price dropped but there was a good support at Rs.7.
That is why i said share is consolidating.
We could confirm this is on Monday. If this is indeed a consolidation my view is that share price should move up and not down because share price’s upward movement was backed with strong financials published
*Almost 110Mn shares traded above Rs.7.20 (13th - 16th)
***For the last 30Days total volume traded was around 220Mn
***More than 50% was traded above current market price
****No director selling (PAP and RAL directors realized their investments at good prices to that of their purchase price)
Source - Investing.com mobile app
(New investors please do not take risk and watch the trading pattern on Monday to learn opportunities and identify how a breakout happens)