APL Apollo Tubes Ltd – Weekly Chart Update: Breakout from Multi-Period Consolidation
Technical Structure:
The chart clearly shows a long consolidation between early 2023 and mid‑2025, bounded by converging trend lines forming a symmetrical wedge/triangle.
Recently, price decisively broke above the upper trendline, accompanied by a volume spike, signaling a classic bullish breakout scenario. A subsequent retest of the breakout zone (~₹1,580–1,600) appears to be underway—buyers holding this zone could pave the way for a continued rally .
Potential Targets and Setup:
• Entry Zone: Weekly close above 34 week moving average
• SL on entry: 1485
• First target: 1900
• If momentum sustains, keep trailing SL
• Invalidation: SL is hit or any opposing bearish signal on chart
Fundamentals:
• The technical breakout aligns with healthy fundamentals—strong ROCE/ROE and sustained revenue growth.
• Though valuations are rich (P/E ~55x, P/B ~10x), the quality of earnings and performance metrics justify the multiple.
Technical Structure:
The chart clearly shows a long consolidation between early 2023 and mid‑2025, bounded by converging trend lines forming a symmetrical wedge/triangle.
Recently, price decisively broke above the upper trendline, accompanied by a volume spike, signaling a classic bullish breakout scenario. A subsequent retest of the breakout zone (~₹1,580–1,600) appears to be underway—buyers holding this zone could pave the way for a continued rally .
Potential Targets and Setup:
• Entry Zone: Weekly close above 34 week moving average
• SL on entry: 1485
• First target: 1900
• If momentum sustains, keep trailing SL
• Invalidation: SL is hit or any opposing bearish signal on chart
Fundamentals:
• The technical breakout aligns with healthy fundamentals—strong ROCE/ROE and sustained revenue growth.
• Though valuations are rich (P/E ~55x, P/B ~10x), the quality of earnings and performance metrics justify the multiple.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.