Larson & Tourbo’s earnings surprised investors positively, but time to sell and book profits?

With reference to the price chart of Larsen and Tourbo (NSE symbol: LT), the stock has gained more 30%, and the recent quarterly earnings too have been positive.

However, the stock price has not reacted positively.

An idea for booking profits if the stock was bought before is being made for the following reasons:

The distance between the 20 and 200 simple moving average (SMA) is wider.

Since the last earnings, the price has increased in a strong sustainable trend.

Now, two consecutive Doji candles indicate a stalemate between buyers and sellers.

Thus, those in the know were already aware of the positive earnings announced recently, and now is a good time to book profits.

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