Somany Ceramics Ltd stock has broken out of a 6-week, 11% deep Flat Base 2-weeks ago. However, the stock is still offering investors an opportunity to get on board as the current price is only 2% away from the ideal buy price of INR 459.
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 6.54% away from the 10-week moving average.
Somany Ceramics Ltd. has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 88. In the last twelve months, the stock has rallied over 322.4% as compared to 58.9% for the Nifty500.
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 Somany Ceramics Ltd. can maintain this outperformance, it could make sense as a CANSLIM trade.
Another key part of the jigsaw is institutional sponsorship. Somany Ceramics Ltd. has an Accumulation/Distribution Rating of 'B'. This represents heavy institutional buying over the past few weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.
On the earnings front, Somany Ceramics Ltd. has a respectable EPS Rank of 75, which is okay but needs improvement. The return on equity for the last reported year is 3%.
The stock belongs to industry group of Bldg-Constr Prds/Misc, which is exhibiting a fair amount of strength in the current market environment. The current industry group rank is 42. The current price of Somany Ceramics Ltd. is -4% off from its 52-week high price and 360% above it 52-week low price.
The stock appears on our idea lists: Trend Template - 5 Months.