Stock Idea : Astra Microwave : Good Result

Astra Microwave Products reported better than expected standalone and consolidated results in Q2 Sep 2019 with good revenue and profit after tax surpassing street expectations.

Technically also stock is gaining momentum with Macd is above signal and base line and Adx is about to cross the 20 level in daily charts.

In weekly charts also Adx and Macd showing positive move and stock is about to cross the 200 ema levels.

Rsi and Obv also showing positive trend. Rsi in overbough position after the recent rally so a consolidation possible in the coming days but more upside possible because of the good result.

In daily chart also stock above 20 dma and crossed 200 dma last week, positive for the stock.

But it is a smallcap stock so if the overall market comes down then if may affect the stock also. So trade carefully 🙂