These Two Stocks Are Trading At A Extended Zone: Alkyl Amines and Dcm Shriram

Posted Date: May 11 2021

Dcm Shriram Stock

Dcm Shriram has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 87. The stock is up over 54.8% in the last 13 weeks. It is up 179.5% from a year ago as compared to 60.7% for the Nifty500.

The stock has had a monster run in just 20 weeks post its break out from a 15-week, 23% deep Cup Without Handle Base. The stock has gained 75% from the ideal buy point of INR 409.

The short term support line, the 10-week moving average is still in uptrend. The current price is extended 18.5% and 60% from the 10-week and 40-week moving average, respectively.

Taking everything into consideration, the stock looks a bit extended for the short term. While shares could certainly keep running higher, this is a good time to be taking at least partial profits. If you are sitting on a big enough profit, you can wait for the stock to breach the 10-week line.

 

Alkyl Amines Chemicals Stock

Alkyl Amines Chemicals has been a roaring outperformer as compared to the broader market. It has a top-notch Relative Strength Rating of 95. The stock is up over 65.1% in the last 13 weeks. It is up 364.4% from a year ago as compared to 60.7% for the Nifty500.

The stock has had a monster run in just 7 weeks post its break out from a 9-week, 17% deep Cup With Handle Base. The stock has gained 65% from the ideal buy point of INR 5480.

The short term support line, the 10-week moving average is still in uptrend. The current price is extended 38% and 99% from the 10-week and 40-week moving average, respectively.

Taking everything into consideration, the stock looks a bit extended for the short term. While shares could certainly keep running higher, this is a good time to be taking at least partial profits. If you are sitting on a big enough profit, you can wait for the stock to breach the 10-week line.

 
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