COROMANDEL INTERNATI

COROMANDEL
End-of-day quote. End-of-day quote  - 08/10
792.35INR +0.44%

Coromandel International Limited : Technically solid

Nicolas Aleksy
Contributor / Partner

Strategy published on : 07/30/2020 | 04:43

long trade
Live

Entry price : 780.35INR
Target : 880INR
Stop-loss : 745INR
Potential : 12.77%

Coromandel International Limited's shares display attractive technical aspects to anticipate a comeback of the underlying trend.
Investors have an opportunity to buy the stock and target the INR 880.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● In a short-term perspective, the company has interesting fundamentals.


Strengths

● Growth progress expectations are rather promising. Indeed, sales are expected to rise sharply in the coming years.

● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.

● Sales forecast by analysts have been recently revised upwards.

● For the last week, the earnings per share forecast has been revised upwards. According to recent estimates, analysts give a positive overview of the stock

● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.

● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 552.35 INR


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● Technically, the stock approaches a strong medium-term resistance at INR 813.1.

● The company is not the most generous with respect to shareholders' compensation.

MarketScreener.com 2020
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