Rain Industries has attracted loads of volume these past few weeks, infact I am bummed about this as I didnt catch it earlier.
Even then the stock is near a long weekly base BO and even attempted that this last week. For the daring ones, this can be a good bet, for conservative ones, not so sure, Maybe keep a tight SL using the daily charts if that helps.
Fundamentally, the stock is not very sound, High Debt to Equity ratio, last 4 quarters have not been good infact they have lost sales and earnings.
Seeing volumes flock in here, might be the market telling good news is about to come, these kind of volumes are generally not wrong, lets see how this goes...
Even then the stock is near a long weekly base BO and even attempted that this last week. For the daring ones, this can be a good bet, for conservative ones, not so sure, Maybe keep a tight SL using the daily charts if that helps.
Fundamentally, the stock is not very sound, High Debt to Equity ratio, last 4 quarters have not been good infact they have lost sales and earnings.
Seeing volumes flock in here, might be the market telling good news is about to come, these kind of volumes are generally not wrong, lets see how this goes...
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And results are not as expected, let's see where does the price take support.
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Forgot to update this, apologies, not a good pick I'm afraid, failed BO, not taking support and a poor market as of now.
RS score in the past 4 weeks has been on a declining slope as well...
RS score in the past 4 weeks has been on a declining slope as well...
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RS Scores in past 4 weeks are as follows :
23rd Feb - 60
1st Mar - 36
7th Mar - 36
15th Mar - 27
Clearly not favored in the market as of now.
23rd Feb - 60
1st Mar - 36
7th Mar - 36
15th Mar - 27
Clearly not favored in the market as of now.