Jubilant Foodworks posted an excellent set of earnings number today and stock responded with huge enthusiasm.
Here's how the daily Chart looks after today's move. It looks like market knew about the good numbers. Such a strong move does change people's attitude towards the stock and does put a floor on the downside.
The Big Question: What Next?
Here's Jubilant Foodworks weekly Chart
The Chart clearly tells us that stock has rallied to the point of resistance on good earnings. And if the market is optimistic about the company - we are looking at long turnaround cycle for the stock on the chart where it will move above 200-week ma and then pull back and consolidate for good period of time till lots of factors come together to give stock another kick in the sky. It means in near to medium term - the big move is over but the stock is not a shorting candidate anymore
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