IMKTA : Time to be in LONG position supported technically...
Before i decide to choose a stock to invest , i usually check fundamental ratios and if i like the company then i look at its technical graphs... As for Ingles Markets Inc. i see each year sales are growing, and its gross income and net income are rising as well... It almost finished year 2020 with 8.82 USD EPS diluted... Its EBITDA became 401 M usd... Its price to sales ratio is 0.16 , Return on equity is %24.10 , return on assets ratio is 9.48% ... P/E about 5.67 and P/B is 0.88 . When i see these ratios , i decided to put this stock in my portfolio.... Because they are really smashing for me...
And then when i check the technical analysis.... I see the pattern INVERSE HEAD & SHOULDERS , very strong signal for an UPTREND rally... You can also see some triangle patterns there.... If you look at the graphs , you can see that last week after the Earnigs Report with a strong financial statements, it broke out the neckline and now resting and maybe checking support and a few days pull back... but a lovely time to take positions for LONG ...
The graph that i tried to publish is WEEKLY , so that we can make a long term view... I also used Fibonacci Retracement Lines from 2007 , because it was the end of its UPTREND and almost it was in correction for 2.5 - 3 years.... so it also gives us ideas for the resistances and supports during our price movement.
As for me i dont care daily movements... For a stock with such a strong financial results, i believe that IMKTA deserves better pricing and in mid-long term i expect it to move to 80-100 usd at least with these financial results.... And technical signs also supports that...
This is not an advice or recommendation for investment... I only wanted to share my ideas about trading and investing for new starters or other investors...
Thank you for reading...
And then when i check the technical analysis.... I see the pattern INVERSE HEAD & SHOULDERS , very strong signal for an UPTREND rally... You can also see some triangle patterns there.... If you look at the graphs , you can see that last week after the Earnigs Report with a strong financial statements, it broke out the neckline and now resting and maybe checking support and a few days pull back... but a lovely time to take positions for LONG ...
The graph that i tried to publish is WEEKLY , so that we can make a long term view... I also used Fibonacci Retracement Lines from 2007 , because it was the end of its UPTREND and almost it was in correction for 2.5 - 3 years.... so it also gives us ideas for the resistances and supports during our price movement.
As for me i dont care daily movements... For a stock with such a strong financial results, i believe that IMKTA deserves better pricing and in mid-long term i expect it to move to 80-100 usd at least with these financial results.... And technical signs also supports that...
This is not an advice or recommendation for investment... I only wanted to share my ideas about trading and investing for new starters or other investors...
Thank you for reading...