ALUM - Trending -/60 cents above the 52 weeks low - Watch!!!

ALUM - Has retraced from a 52 week high of 25.40 to the present 19/=. The 52 week low for the counter was 18.40. Which means that the stock gained 7/= from the low to the high. The present loss therefore is 6/40. That's a retracement of 91.4%(6.40/7*100). This is an interesting development. Along with this the RSI has fallen to the 52 week lowest range of 22.50 to 23 points. There had been an important volume change that happened on the 20th Nov '17 where 1.023M shares had traded, which was an above average trade. We saw their profits increasing from 43M to 83M from JUN to SEPT, that is a significant growth of 93% QoQ. The negative for the counter is the present Aluminum prices in the world markets. It has increased quite considerably.

I expect a trend reversal on this counter in the Short term. Therefore adding this to your watch list will be highly useful. Have a closer look at this counter.