Today’s pick is [stockquote]PANTALOONR[/stockquote]. The stock is currently trading around the same price where it was year ago – range bound between 130 to 220 levels for almost a year. However, it recently zipped past its resistance at 200 on higher volumes. In the last three month period, the stock is up 30% vs. 7% for Nifty.
MACD line has just crossed the signal line from below signaling a bullish movement for the coming days.
Long term set of GMMA lines are fanning out – which is a bullish for the long term. Due to the recent down-trend in the stock prices the short-term lines are constricted and are not signaling any movement.
In addition to these technicals, the stock seems to have some momentum behind it with 4 cross 9 and 9 cross 18 EMA bullish crossovers seen in the past week.
PANTALOONR had a historical volatility in the range of 0.6 to 1.6. Currently the stock’s volatility is towards the lower side of the range.
Looking at these technicals a short-term buy is suggested. For the long-term, the GMMA lines are giving a bullish signal for the stock and a break-out above the 220 levels will confirm the signal.