Watch Out for Jsw Holdings As Its Marches Towards Its 52-week High

Posted Date: May 19 2021
Jsw Holdings stock has cleared a 10-week, 21% deep Cup With Handle Base this week. Currently, the stock is trading around just 8% away from its ideal buy price of INR 4170. The stock is worth watching at the current price level.
 
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 22.59% away from the 10-week moving average.
 
In the last twelve months, Jsw Holdings has rallied nearly 169.5% as compared to 61.1% for the Nifty500. It has a Relative Strength Rating of 76. We definitely would like to 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 Jsw Holdings can maintain this outperformance, it could make sense as a CANSLIM trade.
 
Jsw Holdings stock has strong institutional support. The Accumulation/Distribution Rating of 'B' 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, Jsw Holdings has an excellent EPS Rank of 84, which indicates consistency in earnings. The earnings and sales for the stock have grown by 7% and 5%, respectively over the past three years. Its 3-years earnings stability is 24, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 25% and 20%, respectively. The 5-years earnings stability is 25. The return on equity for the last reported year is 1%.
 
The stock belongs to the industry group of Finance-Invest Bnk/Bkrs. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 108. The current price of Jsw Holdings is -6% off from its 52-week high price and 198% above its 52-week low price.
 
The stock appears on our idea lists: Mark Minervini Trend Template - 5 Months.
 
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