Breakout Stocks of Week 27 @ XBOM
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Power Finance Corporation Limited XBOM:PFC. This stock has had a buy signal since Jun 05, 2024 when the price was ₹447.00 and is so far up 8.51% to ₹485.05. Some other companies are on our watchlist to, among these are UCO Bank XBOM:UCOBANK Central Bank of India XBOM:CENTRALBK Sumedha Fiscal Services Limited XBOM:SUMEDHA and Medicamen Biotech Limited XBOM:MEDICAMEQ which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Power Finance Corporation Limited | ₹485.05 | ₹502.45 ( 2nd Jul 2024 ) | 3.59% |
| Uco Bank | ₹54.78 | ₹53.93 ( 2nd Jul 2024 ) | -1.55% |
| Central Bank Of India | ₹62.74 | ₹62.55 ( 2nd Jul 2024 ) | -0.303% |
| Sumedha Fiscal Services Limited | ₹50.41 | ₹51.23 ( 2nd Jul 2024 ) | 1.63% |
| Medicamen Biotech Limited | ₹454.45 | ₹465.80 ( 2nd Jul 2024 ) | 2.50% |
The Power Finance Corporation Limited stock price gained 1.08% on the last trading day (Friday, 28th Jun 2024), rising from ₹479.85 to ₹485.05. During the last trading day the stock fluctuated 1.87% from a day low at ₹479.55 to a day high of ₹488.50. The price has fallen in 6 of the last 10 days and is down by -3.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 180 thousand more shares were traded than the day before. In total, 600 thousand shares were bought and sold for approximately ₹290.82 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Power Finance Corporation Limited stock to perform well in the short-term.
The UCO Bank stock price gained 1.05% on the last trading day (Friday, 28th Jun 2024), rising from ₹54.21 to ₹54.78. During the last trading day the stock fluctuated 3.20% from a day low at ₹54.30 to a day high of ₹56.04. The price has fallen in 8 of the last 10 days and is down by -3.81% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 431 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹62.33 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Central Bank of India stock price gained 1.06% on the last trading day (Friday, 28th Jun 2024), rising from ₹62.08 to ₹62.74. During the last trading day the stock fluctuated 4.11% from a day low at ₹62.30 to a day high of ₹64.86. The price has fallen in 7 of the last 10 days and is down by -4.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 834 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹89.02 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
The Sumedha Fiscal Services Limited stock price fell by -0.729% on the last day (Friday, 28th Jun 2024) from ₹50.78 to ₹50.41. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.67% from a day low at ₹50.10 to a day high of ₹51.94. The price has fallen in 6 of the last 10 days and is down by -0.94% for this period. Volume has increased on the last day by 16 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 42 thousand shares were bought and sold for approximately ₹2.13 million.
Sumedha Fiscal Services Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Medicamen Biotech Limited stock price gained 2.99% on the last trading day (Friday, 28th Jun 2024), rising from ₹441.25 to ₹454.45. During the last trading day the stock fluctuated 8.98% from a day low at ₹440.50 to a day high of ₹480.05. The price has fallen in 7 of the last 10 days and is down by -4.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately ₹4.32 million.
Medicamen Biotech Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
