VIMTA LABORATORIES

Multi Year Breakout

Selection Criteria

We have selected this stock purely based on Technical Analysis.

This stock had tried to break 325 level during Sep-2018 but failed. After retracement, it again tried to break the same 325 level during Dec-2018 but failed again.

Subsequent to that the sellers took the driving seat and brought the stock price down to as low as 51 during Covid Panic days.

From there the stock tried to build its momentum and made a slow and steady attempt to go up and could reach up to the same resistance level of 325 during Jul-2021. It had made few attempts to break the resistance barrier however failed.

There after, during Jul-Aug 2021 the stock had gone through an exactly similar retracement what it had experienced in Sep-2018. After this small retracement, this time the stock has tried and could successfully broke the resistance level and that is well supported by huge volume of trades.

The weekly volume as of Wed Trading session has been more that the combined volume of past 4 weeks. This shows that big players are now active and putting money to move the price up.

The Technical Weekly Chart of VIMTA LAB is placed for with the analysis.

As per technical analysis, whenever the Reverse Head and Shoulder pattern successfully breaks, the price after slight retracement up to the neckline level it attempts to reach the same distance which is there between the head and the neck line.

The vertical Bar in the chart represents the height of the head from the neck line and is put near the break out level to get the target at around 600 level.