Mirza International – 4 year range breakout. Long term target 45 – 50



Mirza International Technical View


-> Over the last 4 years the stock would bounce to 24-26 and collapse back to 18-20 levels.

-> Recently after making a few attempts at 24-26 it sustained higher which gave a clear indication breakout was on the cards.

-> Today the stock has confirmed a long term breakout by crossing 28 levels.

-> Short term targets would be placed at 30-32 and any dips to 25-26 should be a buying zone.

-> Technically it can be termed as a channel breakout/triangle breakout or a range breakout but implications are we could be looking at 45-50 also in the long run. 


Disclosure: The stock came on our fundamental filter and has been advised to clients at 24 also with long term view. The stock was also recommended as a short term pick at 26-26.5 with a view of 30-32.


Also this is one of the tweets mentioning Mirza a few days back



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