Spice Jet
Technically
The company currently is trading at 31.40
A expanded triangle formation can be seen in the chart.
Where the chart have completed the 4 wave divided into 3 subwave.
It seems like the stock will continue to move up from this level and on can see a target of 37-45 in 3-6 months of time frame.
MACD and ROC are in the positive side of the movement, which indicate the positive movement in price!
Fundamentals
Moreover there is many positive news as well for this company for future growth.
it has got government approval to fly to six new destinations(internationally).
This will increase the international revenue!
Direct import of ATF fuel will reduce cost for the company.
the market share of the company have increased from 13 to 17%.
FDI approval form goverment will help the company to boost the growth.
The debt of the company is low as compared to peers this can help to get borrowing in future
if needed!!!
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