Mahanagar Gas Limited studied on our contributor Arbind's Twitter Handle MGL Stock Study has hit all targets and moved to unchartered territory. The stock tested one's patience, but has now handsomely rewarded the holder's with a move to all time highs.
Once a stock moves to all time highs, it can go on making higher tops if it is in a bull market. People holding it in their portfolio can keep holding with a stop at 1052. This is consitent with our principle of holding on to our winners while cutting the losers from the portfolio.
Here is the original idea shared on Trading View.
If you desire to have the chart structure of any of your share holdings studied, please let us know in the comments section below.
Disclaimer:: The article presented herewith is just an educational assessment of the chart structure of Mahanagar Gas Limited. Please do your own research and consult your financial advisor prior to acting on the information presented herewith. The author does not intend to set forth this article as a recommendation to buy or sell this stock and has a small position in the stock at IPO levels, with some more bought at around 750 or so.
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