This stock rose 25% in just two weeks! Do you own it?

This stock rose 25% in just two weeks! Do you own it?

by 5paisa Research Team Last Updated: Jun 09, 2022 - 12:36 pm 25.6k Views
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The stock of CAMS is the talk of the town recently due to its strong bullishness.

In the past two weeks, shares of CAMS jumped over 25% since its prior swing low of Rs 2037.15. On Thursday, the stock soared by 6% and is above its 50-DMA. Moreover, the stock has recorded above-average volume, indicating a strong buying interest among the market participants. The volume is found to be greater than 10-day, 30-day, and 50-day average volumes. Interestingly, the stock has registered a breakout from its falling trendline connected by prior swing highs. Also, it has crossed above its short term resistance level of Rs 2450. With such a strong price structure, CAMS is expected to continue its bullish momentum in times to come.

The 14-period daily RSI (67.88) has seen a sharp upmove, indicating strong strength. Moreover, it is above its prior swing high. The MACD histogram is rising steadily and demonstrates a good uptrend of the stock. Meanwhile, the Relative Strength (RS) has turned bullish. The +DMI is above the -DMI while ADX is indicating a strong uptrend, while the KST and TSI indicators maintain a bullish view for this stock. After its strong surge, the short term moving averages indicate bullishness, and the stock is about 13% above its 20-DMA.

On YTD basis, the stock has outperformed the broader market and most of its peers. It is bullish for the short term and can test the level of Rs 2750 in times to come. It presents a good opportunity for swing trading and traders can expect good gains from this stock soon.

The company works as a mutual funds transfer agency. It provides investor services, distributor services and asset management companies (AMC) services. With a market capitalization of about Rs 11900 crore, it is a strong growing midcap company.

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