Thyrocare Tech stock is worth watching as the stock is forming a 26-week, 31% deep Cup With Handle Base. The current price is only 2% away from its ideal buy price of INR 1100. 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 12.12% away from the 10-week moving average.
In the last twelve months, Thyrocare Tech has rallied nearly 110.4% as compared to 58.7% for the Nifty500. It has a Relative Strength Rating of 62. 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 Thyrocare Techcan maintain this outperformance, it could make sense as a CANSLIM trade.
On the earnings front, Thyrocare Techhas an excellent EPS Rank of 86, which indicates consistency in earnings. The sales for the stock have grown by 8% over the past three years; however the earnings growth remained muted at -7%. Its 3-years earnings stability is 14, on a 0 to 99 scale (lower the better). Over the past five years, the earnings and sales for the stock have grown by 14% and 14%, respectively. The 5-years earnings stability is 24. The return on equity for the last reported year is 22%.
The stock belongs to the industry group of Medical-Services. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 81. The current price of Thyrocare Technologies -11% off from its 52-week high price and 117% above its 52-week low price.
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