Is Eros Media turning around or this just a case of Rising Tide Leaking Boat?
Here's the Eros Media Weekly Chart
As you can see in the chart above: Eros Media stock made a stunning Trendline Breakout move from 160 to 194 post elections. But since then stock has given up most of the gains and is now at 172.
This move raises the question: Is the breakout for real? If the answer is yes: then the current pullback is an excellent buying opportunity but if the breakout is fake and happened only because of election results - then this may be just a trap.
How should one play it? One can make an assumption that the move is for real. Buy at cmp and if stock slips below 164 - then exit. If the breakout is for real - then one can look at potential target of 230. This is not a recommendation. Just keep an eye on how this works out.
The blogpost is purely for educational service. Please do your own due diligence when it comes to investment/trading.