FINCABLES: Breakout! UPSIDE 16%Stock is moving up with very high relative strength and both technicals and fundamentals are strong in the case of market indices correlation. Price is in the trending phase with Higher-Highs of 0.3-0.5 fib retracement which is considered as a fast trending pace of a particular stock. Recently the stock has given a breakout over the distribution phase and now on the way to the sky. Below I have mentioned an overview that should be considered & necessary before you jump through this!
Points to be Note (Technical + Fundamental)
1. Structrue- Higher: Highs formation (no aggressive formation yet)
2. 1D Critical Demand Zone Candle formation ( Act as a short term healthy correction)
3. Market Cycle: Distribution Phase with strong bearish pressure (1D)
4. Support: Above 50MA
5. Resistance: Pending (yet not made all-time high since 2017)
6. Retracement Levels: 0.3-0.5 Fib (fast pace)
7. Relative strength: Postive at 2.1 bounce form 0 shows
8. Volume: Low volumes with -6% Buyers may lead to strong volumes in upcoming session with highest strength oscilation of +40% with could be gain Relative strength which is settled near 2.00 from top 6.00
9. Beta: 0.65 Not aggressive... Reliable number for Value investors.
1. PE: 17 Considerable as compare to its peer polycab.
2. Marcap 2nd largest company followed by polycab India
3. D/E Ratio: 0.00 (7cr) almost zero as compared to reserves. Debt-free company
4. Book-Value: 2.29 More than double! Negative outlook but again considerable and remain neutral outlook as to its peer (market leader) having 6.20 polycab India.
5. Sales: Decreaded by 3%
6. Sales to OP correlation: Affected but very insignificant
7. Sales to PAT correlation: Surged by 17% YOY
8. ROCE & ROE is 19.6% vs 14.4%
9. Reserves: 13% Increased fairly
10. Investing Activities: 851Cr non-asset investing has been identified might influence future earning growth.
That's it! NSE:FINCABLES
