SONACOMS - Multibagger stock Breakout
To speak about the fundamental of the company, Sonacomstar is among the Top 10 Global Differential Bevel Gear Suppliers, Among the Top 10 Global Starter Motor Suppliers for PVs, and the Largest manufacturer of differential gears for PVs, CVs & Tractors in India. Sona Comstar has an 8.7% market share in the global market in Battery Electric Vehicle (BEV) Differential Assembles, 5% in Differential Bevel Gear, and 3% market share in Starter Motor.
Now about technical,
Price has already corrected nearly 30% from all-time heights of 840. We can see the price has taken support exactly at Fib Retracement levels of 0.618, which is one of the most respected levels in Fib series. Adding to this, in a short-time frame price is in an uptrend with the support of SMA. We can enter trade when price closes above 595 in the daily time frame.
All possible targets are mentioned on the chart. This is not a recommendation. Do your own analysis before investing.
Please share your view on this in the comment.
Now about technical,
Price has already corrected nearly 30% from all-time heights of 840. We can see the price has taken support exactly at Fib Retracement levels of 0.618, which is one of the most respected levels in Fib series. Adding to this, in a short-time frame price is in an uptrend with the support of SMA. We can enter trade when price closes above 595 in the daily time frame.
All possible targets are mentioned on the chart. This is not a recommendation. Do your own analysis before investing.
Please share your view on this in the comment.
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