ARE_M BREAKING OUT FROM 9-YEAR CONSOLIDATION

AMARARAJA ENERGY & MOBILITY (ARE_M) is breaking out from a 9-year consolidation on substantial relative volume. Its relative performance to the broader CNX500 index has been mostly positive since Nov 2022. The momentum indicator (RSI) has been travelling in the bullish territory after entering 60+ zone during Dec 2023. If the breakout sustains the stock can see significant up move in the coming months. On the fundamentals, the company’s sales and EPS have been rising for the last 7 quarters

No recommendation. Only personal analysis.