Ashok Leyland - Flag Pattern
Diupdate
Ashok Leyland is the second largest manufacturer of commercial vehicles in India in the medium and heavy commercial vehicle segment. It also supplies bullet proof vehicles to Indian Army. YoY good performance - top-line has increase substantially, EPS is 6 for TTM.
Ashok Leyland is also showing a flag pattern - rise - consolidation - break-out - rise. Flag pattern is not always a typical flag pattern, and it can be straight, slanting, downwards, etc. If you see the chart, same pattern is currently being followed by Ashok Leyland. A breakout above 191 could lead to 210 target.
Ashok Leyland is also showing a flag pattern - rise - consolidation - break-out - rise. Flag pattern is not always a typical flag pattern, and it can be straight, slanting, downwards, etc. If you see the chart, same pattern is currently being followed by Ashok Leyland. A breakout above 191 could lead to 210 target.
Catatan
Ashok Leyland could not broke the flag pattern, and went to a down trent. However, it has broke the down trend channel and can expect a good move especially with the positive news of good order in hand. I inadvertently posted a new idea on this stock without realising that I had a running idea.
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