Our BMC listing has given McLeodRussel as the best stock for trade today. Lets analyse this stock for its potential to trade. To qualify for our BMC listing a stock should have its EPS and PRS ranking above 80 and have a big volume of above 50% than its average volume.
This stock qualifies in both the EPS and PRS rankings but fails in the volume growth. As the market is bearish now, there are chances of having stocks very poorly on the volume front. Lower volume at the lower price levels is also an indicator that the stock is attracting lower volumes at lower levels and is poised for a good growth going ahead. But, this is not a single lone confirmation that a stock is a strong stock to trade in.
The average volume recorded on this stock is 4,21,606, today's volume is 3,01,185 a good one compared to the peers, but for any stock to have high strength it should have 50% above average volume.
On the Technical charts, the stock is very weak, its weekly charts is reaching for lower lows. Histogram is flat. Pivot is far away and the prevailing trend is bearish. This stock has a long way to go before it can give any good buy signal.
Mutual Fund representation is also balanced at present. most of the funds are selling while some are buying equilizing the total.
New lows and New highs are improving a little with 0/17 on the lower side. this is an indication that the market is getting off its lows for the time being, There are chances that again we may hit another streak of new lows and then the market gains strength to start rallying.
Stocks that are ready to take off are concentrated mostly on the cement industry, but no stocks in that pack show real strength in them, all have exhausted their moves.The only promising stock which has some potential is UNTRATECH.
This stock qualifies in both the EPS and PRS rankings but fails in the volume growth. As the market is bearish now, there are chances of having stocks very poorly on the volume front. Lower volume at the lower price levels is also an indicator that the stock is attracting lower volumes at lower levels and is poised for a good growth going ahead. But, this is not a single lone confirmation that a stock is a strong stock to trade in.
The average volume recorded on this stock is 4,21,606, today's volume is 3,01,185 a good one compared to the peers, but for any stock to have high strength it should have 50% above average volume.
On the Technical charts, the stock is very weak, its weekly charts is reaching for lower lows. Histogram is flat. Pivot is far away and the prevailing trend is bearish. This stock has a long way to go before it can give any good buy signal.
Mutual Fund representation is also balanced at present. most of the funds are selling while some are buying equilizing the total.
New lows and New highs are improving a little with 0/17 on the lower side. this is an indication that the market is getting off its lows for the time being, There are chances that again we may hit another streak of new lows and then the market gains strength to start rallying.
Stocks that are ready to take off are concentrated mostly on the cement industry, but no stocks in that pack show real strength in them, all have exhausted their moves.The only promising stock which has some potential is UNTRATECH.
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