Canslim Archives | Page 4 of 11 | MarketSmith India Blog

May 19, 2021May 19, 2021

Rain Industries: Breaks Out From A 7-week Cup with Handle Pattern.

Rain Industries stock has broken out of a 7-week, 22% deep Cup With Handle Base 3-weeks ago. However, the stock is still worth watching as the current price is only 1% away from the ideal buy price of INR 175.

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 6.94% away from the 10-week moving average.

In the last twelve months, Rain Industries has rallied nearly 154% as compared to 61.1% for the Nifty500. It has a Relative Strength Rating of 74. 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 RS Line remains in a downtrend for the last four weeks. However, this is not unusual for a leading stock as the stock sets up base for its next leg up or at the very beginning of a new trend. At this point, the overall long term trend of the line is upward. If Rain Industries can maintain a healthy upward move, it could make sense as a CANSLIM trade.

Rain Industries stock has strong institutional support. The Accumulation/Distribution Rating of ‘A-‘ represents heavy institutional buying over the past few weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

On the earnings front, Rain Industries has an excellent EPS Rank of 89, which indicates consistency in earnings. The earnings and sales for the stock have seen de-growth of -13% and –7%, 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 8% and 4%, respectively. The 5-years earnings stability is 41. The return on equity for the last reported year is 11%.

The current price of Rain Industries is -8% off from its 52-week high price and 189% above its 52-week low price. The stock belongs to the industry group of Mining-Metal Ores, which is exhibiting excellent strength in the current market environment. The current industry group rank is 5.

The stock appears on our idea lists: Trend Template – 5 Months.

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Is Carborundum Universal Still A Good Buy?

May 19, 2021May 28, 2021

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

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.

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: Trend Template – 5 Months.

Solara Active Marching North As it Breaks out of a 11-week Cup Pattern.

Balkrishna Industries Reaches its 52-week High On Higher Volume

May 19, 2021May 28, 2021

Is Carborundum Universal Still A Good Buy?

Carborundum Universal stock has cleared a 10-week, 23% deep Consolidation Base this week. Currently, the stock is trading around just 7% away from its ideal buy price of INR 572. The stock is worth watching at the current price level.

Carborundum Universal has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 81. In the last twelve months, the stock has rallied over 169.2% as compared to 61.1% 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 Carborundum Universal can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Carborundum Universa lhas an Accumulation/Distribution Rating of ‘B+’. This represents heavy institutional buying over the past 13 weeks. The number of institutional sponsors and shares held by the sponsors, both increased in the last reported quarter.

On the earnings front, Carborundum Universal has an excellent EPS Rank of 84, which indicates consistency in earnings. Over the past three years, the earnings and sales for the stock have grown by 14% and 6%, respectively. The 5-years earnings stability is 7. The return on equity for the last reported year is 14%.

The current price of Carborundum Universal is -1% off from its 52-week high price and 202% above it 52-week low price. The stock belongs to industry group of Machinery-Gen Industrial, which is exhibiting excellent strength in the current market environment. The current industry group rank is 38.

The stock appears on our idea lists: Trend Template – 5 Months.

Phillips Carbon Forming a 6 Week Cup With Handle Pattern

Solara Active Marching North As it Breaks out of a 11-week Cup Pattern

May 18, 2021May 18, 2021

Balkrishna Industries Reaches its 52-week High On Higher Volume.

Balkrishna Industries stock has cleared a 13-week, 19% deep Cup Without Handle Base this week. Currently, the stock is trading around just 11% away from its ideal buy price of INR 1875. The stock is offering investors an opportunity to get on board at the current price.

In the last twelve months, Balkrishna Industries has rallied nearly 100.8% as compared to 61.1% for the Nifty500. It has a Relative Strength Rating of 69. We definitely would like 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 Balkrishna Industries can maintain this outperformance, it could make sense as a CANSLIM trade.

Balkrishna Industries stock has a strong institutional support. The Accumulation/Distribution Rating of ‘B+’ represents heavy institutional buying over the past few weeks. Although the shares held by institutions dropped in the last quarter, the number of institutions holding the stock increased at the same time. This shows increasing interest among the institutions.

On the earnings front, Balkrishna Industries has an excellent EPS Rank of 91, which indicates consistency in earnings. The earnings and sales for the stock have grown by 12% and 8%, respectively over the past three years. Its 3-years earnings stability is 6, 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 9%, respectively. The 5-years earnings stability is 9. The return on equity for the last reported year is 20%.

The stock belongs to industry group of Auto/Truck-Tires & Misc. You would still want to see some improvement in the industry group rank for the group. The current industry group rank is 98. The current price of Balkrishna Industries is -2% off from its 52-week high price and 129% above it 52-week low price.

The stock appears on our idea lists: Trend Template – 5 Months.

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Is Asian Paints Stock still a good buy?

Watch out for Chemical-Agriculture Stock As It Races Towards Its 52-week High.

May 18, 2021May 18, 2021

Solara Active Marching North As it Breaks out of a 11-week Cup Pattern.

Solara Active Pharma stock has cleared an 11-week, 27% deep Cup Without Handle Base this week. Currently, the stock is trading around just 6% away from its ideal buy price of INR 1625. The stock is offering investors an opportunity to get on board at the current price.

Solara Active Pharma has been an outperforming stock as compared to the broader market. It has a strong Relative Strength Rating of 81. In the last twelve months, the stock has rallied over 262.4% as compared to 61.1% 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 Solara Active Pharma can maintain this outperformance, it could make sense as a CANSLIM trade.

Another key part of the jigsaw is institutional sponsorship. Solara Active Pharma has an Accumulation/Distribution Rating of ‘A+’. 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, Solara Active Pharma has an EPS Rank of 55, which is okay but fails to impress a growth stock investor. The earnings and sales for the stock have grown by 80% and 6%, respectively over the past three years. Its 3-years earnings stability is 8, on a 0 to 99 scale (lower the better). The return on equity for the last reported year is 11%.

The stock belongs to the industry group of Medical-Diversified. You would still want to see some improvement in the industry group rank group. The current industry group rank is 88. The current price of Solara Active Pharma is -5% off from its 52-week high price and 279% above its 52-week low price.

The stock appears on our idealists: Trend Template – 5 Months.

Is Asian Paints Stock still a good buy?

Watch out for Chemical-Agriculture Stock As It Races Towards Its 52-week High.