Stock of the Day – InfoEdge

After consolidating for 2 years (2011 and 2012), the stock broke out of the range in mid 2013. The stock appreciated by 34% in the year just gone by and in just under two months of 2014 has appreciated a further 31%. Today, the stock is once again on the verge of another breakout from a Cup pattern formation. Despite the appreciation that we have seen in the last 8 – 9 months, the pattern breakout suggests a target of 825 which is 36% above the current closing price.

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About Prashanth

Have been a full time participant in the stock markets since 1996. Run a Yahoo Group where focus is exclusively on discussions of the Indian Markets using Technical Analysis as the tool (groups.yahoo.com/group/technical-investor)
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