Deepak Fertilisers And Petrochemicals Corporation Ltd. (DEEPAKFERT) seems bottoming out
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DEEPAKFERT is showing an intriguing chart pattern on the 0.25% x 3 Point and Figure (PnF) chart. It appears that the stock has reached its low point and is now ready for a rapid upmove. This setup offers a low-risk opportunity, with a stop loss of only 5% and the potential for a 22% gain, making for an attractive risk-to-reward ratio
Similarly, on the candlestick chart, the stock has begun trading above significant moving averages, including the 21EMA, 50EMA, and 200EMA. This shift is accompanied by a substantial volume increase at lower price levels.
