Indian Energy Exchange stock is worth watching as the stock is forming a 7-week, 18% flat base pattern. The current price is only 2% away from its ideal buy price of INR 393. 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 10.38% away from the 10-week moving average.
Indian Energy Exchange has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 86. In the last twelve months, the stock has rallied over 147.1% as compared to 49.1% for the Nifty500.
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 Indian Energy Exchange can maintain this outperformance, it could make sense as a CANSLIM trade.
Indian Energy Exchange stock has a strong institutional support. The Accumulation/Distribution Rating of 'A' 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, Indian Energy Exchange has an excellent EPS Rank of 88, which indicates consistency in earnings. The earnings and sales for the stock have grown by 13% and 6%, respectively over the past three years. Its 3-years earnings stability is 4, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 16% and 10%, respectively. The 5-years earnings stability is 4. The return on equity for the last reported year is 46%.
The stock belongs to the industry group of Financial Svcs-Specialty, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 65.The current price of Indian Energy Exchange is -3% off from its 52-week high price and 176% above its 52-week low price.