Waterbase Ltd. – Update

Today Waterbase closed at a 12 year high of rs 26.7. As mentioned at here, rs 25 was strong resistance. For two days it has managed to close above it on back of Massive volumes. This is great news for the technical trackers. Now it will move towards its lifetime high of Rs 44, where it would again encounter significant resistance. If the fundamentals keep backing this stock, the stock could eventually break that level too. Breaking of 12 yrs of consolidation is very significant. Just FYI, the stock has has already appreciated by more than 45% since it was recommended.

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