Suprajit Engineering stock is worth watching as the stock is forming a 13-week, 22% deep Cup Without Handle Base. The current price is only 3% away from its ideal buy price of INR 310. 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.
In the last twelve months, Suprajit Engineering has rallied nearly 134.6% as compared to 58.9% for the Nifty500. It has a Relative Strength Rating of 61. We definitely would like 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 Suprajit Engineering can maintain this outperformance, it could make sense as a CANSLIM trade.
Suprajit Engineering stock has a strong institutional support. The Accumulation/Distribution Rating of 'A+' represents heavy institutional buying over the past few weeks. Although the number of institutions holding the stock dropped in the last quarter, the number of shares held by the institutions increased at the same time.
On the earnings front, Suprajit Engineering has an excellent EPS Rank of 90, which indicates consistency in earnings. The sales for the stock have grown by 1% over the past three years; however the earnings growth remained muted at -16%. Its 3-years earnings stability is 26, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 1% and 10%, respectively. The 5-years earnings stability is 28. The return on equity for the last reported year is 16%.
The stock belongs to 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 66. The current price of Suprajit Engineering is -3% off from its 52-week high price and 150% above it 52-week low price.
The stock appears on our idea lists: Minervini Trend Template.