Relaxo Footwears (Pre - Results Analysis) | Good Move Possible

RELAXO

Relaxo Footwears has been into a tight consolidation zone since the past few weeks, with quarterly results

Last Quater due to weak results the stock had shipped down 10%, however, it came back to it original price gradually, the current consolidation happening in the stock is forming an ascending triangle pattern (which is considered as a bullish pattern) however with results on the go that will be announced on 26th July'22 (Tuesday) I am slightly positive about the results of this quarter

So here is my Trade plan, Though I am bullish I will wait for the confirmation by price action, when the candle closes above the level of 1017, and gives a re-test/retracement on the level of 1017. I will plan to take a long position with a target price of 1111-1115

Also last quarter showed us that the costs pressures for the company had deeply hurt the profitability of the company, let's see how did company plan and take action on the last quarter's issues.

Hoping for a positive Quater

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Disclaimer - The idea shared is just for educational purposes with no intention to promote the company, before investing kindly do your own research and also consult your financial advisor, I am not a SEBI registered individual.

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