Stock Radar: 200% rally in 6 months! This multibagger consumer electronic stock finds support around 12-WMA

Traders with a high-risk profile can look to buy the stock for a possible target of 680 in the next few weeks, suggested experts.

Synopsis

This BSE Smallcap index stock surged from Rs 199 on April 29, 2024, to Rs 585 on October 29, marking an over 192% gain. Although it reached a record high of Rs 694 on September 25, it couldn’t sustain the peak. Experts suggest the slight dip as a potential buying opportunity, as the stock continues its uptrend and found support above the 12-week moving average on weekly charts.

PG Electroplast Ltd (PGEL), a player in the consumer electronics sector, experienced mild consolidation after reaching a record high in September. However, the stock has found support above the 12-EMA on the weekly charts.Traders with a high-risk profile can look to buy the stock for a possible target of 680 in the next few weeks, suggested experts.This BSE Smallcap index stock rose from Rs 199 as of April 29, 2024, to Rs 585 recorded on October

BY

ETMarkets.com

Oct 31, 2024, 10:00:00 AM IST

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