Breakout Stocks of Week 29
NASDAQ was up last week (week 28) by 0.428% ending at 14,701.92 points after gaining 62.59 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 PDS Multinational Fashions Limited NSE:PDSMFL. This stock has had a buy signal since Sep 16, 2020 when the price was ₹286.00 and is so far up 261.26% to ₹1,033.20. Some other companies are on our watchlist to, among these are Torrent Pharmaceuticals Limited NSE:TORNTPHARM McColl's Retail Group Plc XLON:MCLS Vardhman Holdings Limited NSE:VHL and Tractor Supply Company XLON:TSCO which all got a breakout pattern emerging.
| Date | Company | Price | Week 29 |
|---|---|---|---|
| Pds Multinational Fashions Limited | ₹1,033.20 | ₹1,183.00 | 14.50% |
| Torrent Pharmaceuticals Limited | ₹3,005.05 | ₹2,990.75 | -0.476% |
| Mccoll's Retail Group Plc | £38.80 | £36.95 | -4.77% |
| Vardhman Holdings Limited | ₹2,653.20 | ₹3,240.75 | 22.14% |
| Tractor Supply Company | £237.70 | £234.90 | -1.18% |
The PDS Multinational Fashions Limited stock price gained 3.05% on the last trading day (Friday, 9th Jul 2021), rising from ₹1,002.65 to ₹1,033.20. During the last trading day the stock fluctuated 7.15% from a day low at ₹1,007.95 to a day high of ₹1,080.00. The price has risen in 7 of the last 10 days and is up by 5.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 33 thousand more shares were traded than the day before. In total, 38 thousand shares were bought and sold for approximately ₹39.75 million.
PDS Multinational Fashions Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
The Torrent Pharmaceuticals Limited stock price gained 2.02% on the last trading day (Friday, 9th Jul 2021), rising from ₹2,945.50 to ₹3,005.05. During the last trading day the stock fluctuated 3.08% from a day low at ₹2,924.00 to a day high of ₹3,014.00. The price has been going up and down for this period, and there has been a 4.12% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 164 thousand more shares were traded than the day before. In total, 283 thousand shares were bought and sold for approximately ₹851.53 million.
Torrent Pharmaceuticals Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Torrent Pharmaceuticals Limited:
Torrent Pharmaceuticals Limited engages in the research, development, manufacturing, and marketing of generic pharmaceutical formulations in India, the United States, Germany, Brazil, and internationally. It offers products in various therapeutic areas, including cardiovascular, central nervous system, gastrointestinal, women healthcare, diabetology, pain management, gynecology, oncology, and anti-infective, as well as provides vitamins, minerals, and nutrients. The company also provides contract manufacturing services. It has licensing collaborations of Baricitinib, Molnupiravir, and Paxlovid for its Covid portfolio. Torrent Pharmaceuticals Limited was formerly known as Trinity Laboratories and changed its name to Torrent Pharmaceuticals Limited in 1971. The company was founded in 1959 and is based in Ahmedabad, India. Torrent Pharmaceuticals Limited is a subsidiary of Torrent Investments Private Limited.
The McColl's Retail Group Plc stock price gained 1.04% on the last trading day (Friday, 9th Jul 2021), rising from £38.40 to £38.80. During the last trading day the stock fluctuated 5.59% from a day low at £36.75 to a day high of £38.80. The price has risen in 5 of the last 10 days and is up by 6.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 264 thousand more shares were traded than the day before. In total, 353 thousand shares were bought and sold for approximately £13.68 million.
McColl's Retail Group Plc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About McColl's Retail Group Plc:
McColl's Retail Group plc operates as a neighbourhood retailer in the United Kingdom. The company operates convenience and newsagent stores that offer food and groceries, fruits and vegetables, ready meals, prepared food-to-go, tobacco, general merchandise, news and magazines, and services, as well as provides post office and ATM services. As of November 29, 2020, it operated 1,265 neighborhood stores, including 1,093 McColl's branded convenience stores and 172 Martin's branded newsagents stores. The company was founded in 1901 and is headquartered in Brentwood, the United Kingdom.
The Vardhman Holdings Limited stock price gained 4.69% on the last trading day (Friday, 9th Jul 2021), rising from ₹2,534.35 to ₹2,653.20. During the last trading day the stock fluctuated 5.08% from a day low at ₹2,540.00 to a day high of ₹2,669.00. The price has been going up and down for this period, and there has been a 6.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 318 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately ₹3.47 million.
Vardhman Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Vardhman Holdings Limited:
Vardhman Holdings Limited operates as a non-banking financial company in India. It primarily engages in the lending and investing activities. The company was formerly known as Vardhman Spinning and General Mills Limited and changed its name to Vardhman Holdings Limited in March 2006. Vardhman Holdings Limited was incorporated in 1962 and is based in Ludhiana, India.
The Tractor Supply Company stock price gained 1.47% on the last trading day (Friday, 9th Jul 2021), rising from £234.25 to £237.70. During the last trading day the stock fluctuated 1.32% from a day low at £235.00 to a day high of £238.10. The price has risen in 7 of the last 10 days and is up by 5.88% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 19 million shares were bought and sold for approximately £4.42 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Tractor Supply Company holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Tractor Supply Company:
Tesco PLC, together with its subsidiaries, engages in retailing and retail banking activities. It provides food products through approximately 4,752 stores in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary, as well as through online. The company is also involved in the food and drink wholesaling activities. In addition, it offers banking and insurance services in the United Kingdom. Further, the company operates a network of one stop convenience stores; and provides data science, technology, software, and consultancy services. Tesco PLC was founded in 1919 and is headquartered in Welwyn Garden City, the United Kingdom.
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.
