FLUOROCHEM BREAKING OUT TO NEW HIGHS
On the weekly scale FLUOROCHEM is making a strong breakout from about 2-year long base, and is trading at its all-time high. Volumes over the last 2 weeks have been substantially high. RSI is trending higher in its bull zone, above 60, indicating strong upward momentum. Directional momentum (ADX, DMI) has turned up as the Plus-DI moved above 25, and the ADX line too started moving up above the Minus-DI. The stock has also started outperforming the NIFTY Index as it moved above its yearly average (52 weeks) and made a higher-high.
On the fundamentals front the performance has NOT been attractive over the last 5 quarters. However, the number of funds holding the stock has increased by over 6%, and the shares held by funds has risen by over 11% during the last quarter. Momentum players may look for some good gains in the coming weeks.
DISCLAIMER: This publication is purely a personal analysis and is meant to be for educational purposes. It is not intended to be any advice, suggestion, or inducement to buy, sell, or hold any stock, or any other financial instrument. Please consult your financial advisor for any decision to buy, sell, hold, or otherwise deal with financial instruments, as they are prone to substantial financial risks.
On the fundamentals front the performance has NOT been attractive over the last 5 quarters. However, the number of funds holding the stock has increased by over 6%, and the shares held by funds has risen by over 11% during the last quarter. Momentum players may look for some good gains in the coming weeks.
DISCLAIMER: This publication is purely a personal analysis and is meant to be for educational purposes. It is not intended to be any advice, suggestion, or inducement to buy, sell, or hold any stock, or any other financial instrument. Please consult your financial advisor for any decision to buy, sell, hold, or otherwise deal with financial instruments, as they are prone to substantial financial risks.
Raju KMS Datla
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