TinPlate Co. stock is worth watching as the stock is forming an 8-week, 17% deep Consolidation
. The current price is only 6% away from its ideal buy price of INR 235. 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 4.4% away from the 10-week moving average.
In the last twelve months, Tin Plate Co. has rallied nearly 86.6% as compared to 50.3% for the Nifty500. It has a Relative Strength Rating
of 59. We definitely would like to see an 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 Tin Plate Co. can maintain this outperformance, it could make sense as a CANSLIM
On the earnings front, Tin Plate Co. has an excellent EPS Rank of 81, which indicates consistency in earnings. The earnings for the stock have grown by 17% over the past three years; however, the sales growth remained muted at -1%. Its 3-years earnings stability is 19, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 15% and 27%, respectively. The 5-years earnings stability is 26. The return on equity for the last reported year is 12%.
The current price of Tin Plate Co. is -7% off from its 52-week high price and 89% above its 52-week low price. The stock belongs to the industry group of Steel-Producers, which is exhibiting excellent strength in the current market environment. The current industry group rank is 21.