A Cup Base Pattern For these Two Stocks, Tube Investments And Cyient Ltd.
Stock has cleared a 13-week, 25% deep Cup Without Handle Base this week. Currently, the stock is trading around just 1% away from its ideal buy price of INR 1450. The stock is offering investors an opportunity to get on board at the current price.
The stock ended the week on a bullish note. It closed 4.02% up on a 10% greater volume than the 10-week average. You want to see a strong close on heavy volume like this before initiating a position. That signals institutional buying. You would also want to see the same price volume momentum to continue in the coming weeks.
The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around -1% away from the 10-week moving average.
In the last twelve months, Tube Investments has rallied nearly 127.3% as compared to 53.4% for the Nifty500. It has a Relative Strength Rating of 69. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.
The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Tube Investments can maintain this outperformance, it could make sense as a CANSLIM trade.
Another key part of the jigsaw is institutional sponsorship. Tube Investments has an Accumulation/Distribution Rating of “B+”. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.
On the earnings front, Tube Investments has an excellent EPS Rank of 92, which indicates consistency in earnings. Over the past five years, the earnings and sales for the stock have grown by 18% and 5%, respectively. The 5-years earnings stability is 25. The return on equity for the last reported year is 15%.
The stock belongs to the industry group of Auto/Truck-Original Eqp. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 122. The current price of Tube Investments is -11% off from its 52-week high price and 130% above its 52-week low price.
The stock appears on our idea lists: Minervini Trend Template
Stock has cleared a 8-week, 19% deep Cup Without Handle Base this week. Currently, the stock is trading around just 1% away from its ideal buy price of INR 1092. The stock is offering investors an opportunity to get on board at the current price.
The stock ended the week on a bearish note. It closed 3.37% up on a 110% greater volume than the 10-week average. You want to see a strong close on heavy volume like this before initiating a position. That signals institutional buying. You would also want to see the same price volume momentum to continue in the coming weeks.
The key trend lines, 10 and 40-week moving averages are at a comfortable position. The current trends of both the averages are upward and the 10-week moving average is trending above the 40-week moving average. The current price of the stock is trading around 2.8% away from the 10-week moving average.
In the last twelve months, Cyient Ltd. has rallied nearly 163.6% as compared to 53.4% for the Nifty500. It has a Relative Strength Rating of 73. We definitely would like to see improvement in the rating. At this point we are taking a step back and focusing on the RS Line.
The Relative Strength Line of the stock is offering a lot of encouragement to investors. It has been making good progress in the last four weeks. The overall long term trend of the line is also trending upward. If Cyient Ltd. can maintain this outperformance, it could make sense as a CANSLIM trade.
Cyient Ltd. stock has strong institutional support. The Accumulation/Distribution Rating of 'B+' represents heavy institutional buying over the past 13 weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.
On the earnings front, Cyient Ltd. has an excellent EPS Rank of 75, which indicates consistency in earnings. The earnings and sales for the stock have seen de-growth of -7% and -3%, respectively over the past three years. Its 3-years earnings stability is 14, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 2% and 5%, respectively. The 5-years earnings stability is 14. The return on equity for the last reported year is 13%.
The stock belongs to the industry group of Computer-Tech Services. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 98. The current price of Cyient Ltd. is -15% off from its 52-week high price and 182% above its 52-week low price.
The stock appears on our idea lists: Minervini Trend Template
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