9 Apr 2021 ● 04:31 PM
Starting to cover this for an unusual reason. I first came across it over a decade ago because My then CEO asked about it. A good company in animal and pets healthcare. Unusual sector but as I heard somewhere it's a multi-billion dollar industry in the west. In India, I did not think pets were a big thing back then but now most of my neighbors are slowly getting themselves pets. The companies stock did not perform after the first rally till 2013 and then has been on a steady rise. Valuations can appear high but that may be reflecting expectations of growth, and it has been growing slowly. Now the technicals, it is not liquid its a smallcap, and RSI at above 70 on daily charts makes it overbought short term. But the big picture is what interests me so covering it under 'value wave investment'. The lower channel at 1090 holds and if a major 3rd wave develops to the top end of the channel that level is at 50,000 and rising. The stock closed at 2207. So enough time to think about it but worthy of coverage. I Will work on the shorter-term wave counts next.