Attached chart of goodricke group shows a flag pattern breakout. Line chart (which is obtained by only considering closing price without considering high or low) has been shown to reduce the effects of whipsaws.
While a lot of tea stocks have run up strongly this one looks like it is in a beginning phase of upmove which should last a few months or more.
Company is a debt free company with high dividend payout. While currently the ttm PE might look optically expensive, with sustained uptrend in tea prices, this company can vastly improve its performance going forward.
Risk reward looks attractive looking at the techno funda picture.
Since chart is a monthly chart, pattern will take a long time to play out.
disc: bought a small position to keep track of the stock.
