Adani Ports and Special Economic ZoneAdani Ports and Special Economic Zone stock is worth watching as the stock is forming an 8-week, 22% deep Cup Without Handle Base. The current price is only 1% away from its ideal buy price of INR 885. Aggressive investors could use any tight area breakout inside the base as an opportunity to initiate a small position. A conservative approach may be to add the stock to your watchlist so that you are ready to pounce if it breaks out to the traditional entry point.
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 12.65% away from the 10-week moving average.
In the last twelve months, It has rallied nearly 144.4% as compared to 55.6% for the Nifty500. It has a Relative Strength Rating of 77. 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 Company can maintain this outperformance, it could make sense as a CANSLIM trade.
Adani Ports and Special Economic Zone stock has strong institutional support. The Accumulation/Distribution Rating of 'A' represents heavy institutional buying over the past few 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, Adani Ports and Special Economic Zone has an excellent EPS Rank of 93, which indicates consistency in earnings. The earnings and sales for the stock have grown by 16% and 3%, respectively over the past three years. Its 3-years earnings stability is 22, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 10% and 10%, respectively. The 5-years earnings stability is 19. The return on equity for the last reported year is 16%.
The stock belongs to the industry group of Real Estate Dvlpmt/Ops, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 48. The current price of Adani Ports and Special Economic Zone is -2% off from its 52-week high price and 195% above its 52-week low price.