This logistics stock in India may be a buy candidate
This logistics stock in India may be a buy candidate.
$VRLL.NS $VRLLOG (India)
$FDX in the USA dropped by 21%+ on Friday. Its CEO announced that a broad decline in logistics activities is upon all industry peers across the globe. And that a global recession may not be avoided.
Today, on Monday, $VRLL.NS in the trucking industry in India is looking bullish as per #CUE analysis.
How I came to know about it? One fellow trader shared it earlier in India's CUE traders' group. He had bought and booked at least a partial profit. I have kept an eye on the stock since then. That is how I found the stock. It could be found using #CUE/momentum scan as well.
How is the stock looking today?
CUE Vital shows high earnings growth. Robust earning quality. Fund accumulation. 75% of peer stocks are up.
Weekly has Memory trendline support. Daily broke out of the narrow price range a few days ago with a bullish shape candle. Since then the yellow Direction line is holding. White Direction is already below the yellow Direction line. The stock is therefore in a confirmed uptrend.
In the alternate momentum chart, it displayed MoBo breakout with a Kahuna and Pocket Pivot from a Squeeze a few days ago. Since then, the price is holding the gains.
If the stock can go above yesterday's high, or at least closes with a bullish shape candle, that may be a low-risk buy point.