High momentum stock: Pressman Advertising

Pressman Advertising is a micro-cap company, engaged in providing advertising, public relations (PR) and allied services.

With a market capitalization of just Rs 111 crore, Pressman Advertising is one of the most promising companies with strong growth potential in its sector. The company has reported an increase in net profits last year and has improved its operating margins significantly in past years. The business management believes in their business practices and holds a bright future for the company.

On the technical chart, the stock has recorded a fresh 52-week high of Rs 48 and has surged nearly 15% today. In the last three days, the stock has reported an increase of about 30%. This huge surge in its price can be attributed to institutional buying or HNIs taking a long position in the stock. The scrip had taken support near its 20-DMA and has shot up since then. With this, the RSI has moved to 86, which is extremely bullish. Moreover, the MACD histogram is rising which suggests strong upside potential. The trend of the stock is quite strong, as the ADX has crossed the 50-mark. Along with this, the short term and long term moving averages are sloping upward, which highlights a strong uptrend of the stock. Thus, the technical parameters suggest an extremely bullish nature for the stock. Also, huge volumes have been recorded after many months of sluggishness and highlights the attention of market movers towards this stock. Interestingly, the deliverable quantity stood over 41% in the last trading session, which indicates that participants are willing to hold this stock.

The stock has also performed exceptionally well in the past year, as it doubled itself over the period, and has generated enormous wealth for its shareholders. The stock shows no sign of weakness and traders have a perfect opportunity to ride the momentum and book quick profits!