Donear Industries Ltd Recent Performance and Price Movement
Donear Industries has experienced a strong upward trend over the past few months. The stock recorded a substantial 29% gain in June, followed by a moderate 3.5% increase in July. These price movements indicate sustained investor confidence, likely driven by the company's impressive financial results.
On July 1, 2024, Donear Industries announced its Q4 results, revealing a 13.39% increase in topline revenue and a staggering 86.5% year-over-year (YoY) growth in net profit. Quarter-over-quarter (QoQ), revenue grew by 17.56%, while profit surged by 122.54%. Operating income also saw a significant increase of 69.73% QoQ and 48.28% YoY. The company reported an EPS of ₹3.06 for Q4, marking an 86.67% YoY increase. Additionally, selling, general & administrative expenses declined by 5.82% QoQ and decreased by 0.42% YoY, showcasing improved operational efficiency.
The financial results and favorable market sentiment have bolstered Donear Industries' stock price, pushing it closer to its 52-week high of ₹153. The stock’s performance over the past month indicates a consolidation phase, with potential for further gains as the market digests the recent financial data.
Latest Chart Analysis for Donear Industries Ltd
Analyzing the weekly chart of Donear Industries, the stock is approaching a critical resistance level at ₹153, its 52-week high. The chart shows a strong uptrend, with the stock forming higher highs and higher lows over the past several weeks. So Above 153 price levels we can consider as a breakout on this stock.
Latest Support and Resistance Levels:
- Current Support: The stock has strong support at ₹135
- Resistance Levels: The immediate resistance is at ₹153, and a breakout above this level could trigger further upside momentum.
- Upcoming Targets: If the stock successfully breaks out above ₹153, the next targets are ₹156, ₹163, and ₹170.
Entry Levels:
- Breakout Entry: Investors can consider entering near the price levels, around ₹153, in anticipation of a breakout.
- Conservative Entry: A safer entry would be closer to the support level of ₹135, with a stop-loss below this level.