Is Filatex India A Good Buy At Current Levels?

Filatex India stock is forming a 8-week, 19% deep Consolidation Base. This is a bullish sign, but it is still very deep in its base. The current price is still 10% away from its ideal buy price of INR 118. A prudent approach would be to add the stock to your watchlist and perform a detailed analysis on it. This means you can be ready to pounce as the stock breaks out to the ideal 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 -4.16% away from the 10-week moving average.

 

Filatex India has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 83. In the last twelve months, the stock has rallied over 275.6% as compared to 44.4% for the Nifty500.

 

The Relative Strength Line of the stock is offering signs 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 Filatex India can maintain this outperformance, it could make sense as a CANSLIM trade.

 

On the earnings front, Filatex India has an excellent EPS Rank of 96, which indicates consistency in earnings. The earnings for the stock have grown by 40% over the past three years; however the sales growth remained muted at -3%.  Its 3-years earnings stability is 61, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 34% and 12%, respectively. The 5-years earnings stability is 73. The return on equity for the last reported year is 24%.

 

The current price of Filatex India is -10% off from its 52-week high price and 384% above its 52-week low price. The stock belongs to the industry group of Apparel-Clothing Mfg, which is exhibiting excellent strength in the current market environment. The current industry group rank is 29.

The stock appears on our idea lists:  Minervini Trend Template