Did some research...
Waterbase along with Avanti Feed and Apex are in Shrimp business. The cost of raw material is going down and that could be major factor in revival of all three of them. Avanti feed being biggest firm in shrimp/frozen Shrimp business.
Could you check charts of other two firms too? my untrained eyes says they are going up faster then Waterbase
here, cost of Fishmeal
View attachment 39417
edit: India's export is growing month on month even though prices are going down.
View attachment 39418
Waterbase along with Avanti Feed and Apex are in Shrimp business. The cost of raw material is going down and that could be major factor in revival of all three of them. Avanti feed being biggest firm in shrimp/frozen Shrimp business.
Could you check charts of other two firms too? my untrained eyes says they are going up faster then Waterbase
here, cost of Fishmeal
View attachment 39417
edit: India's export is growing month on month even though prices are going down.
View attachment 39418
Below is the chart of avanti feeds
It looks like have completed 5 wave decline and it is pulling back in daily time frame chart. This pull back might be abc or fresh impulsive waves if the previous 5 wave decline was part of some flat correction. its very unlikely to have flat correction. because i dont see any clear 3-3 waves for wave a and b of flat correction. So the 5 wave decline might most likely be a fresh impulsive down and the pull back might be abc. So need to be bit cautious on this stock when it is working on it wave C upwards in the pull back
Same could be the case for Apex frozen.Not quite sure because of less data. But I have marked only for the current movement on that stock.
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