This micro-cap stock zoomed over 40 per cent in just two days. But is there any steam left?

The stock has marked a fresh 52-week high on Wednesday. The stock is up by nearly 114 per cent in the last one year and in the past three months it has surged a little over 60 per cent. 

The stock of Williamson Magor & Company Limited has gained more than 40 per cent in just two trading sessions. To be precise it has risen from Tuesday’s low of Rs 23.10 to a high of Rs 33.65 on Wednesday. The stock is locked in the upper circuit limit for the day as it has gained nearly 20 per cent. Interestingly, the stock has recorded the highest single-day volume in the last decade as volume is inching close to the 10-lakh mark. 

What’s fascinating to see is the fact that for the second consecutive trading session the stock has hit its upper circuit limit and with this, the stock has marked a fresh 52-week high on Wednesday. The stock is up by nearly 114 per cent in the last one year and in the past three months it has surged a little over 60 per cent. 

The stock has witnessed a breakout of a consolidation pattern and fascinatingly, the breakout is accompanied by a huge surge in the volumes, which is quite evident from the fact that the stock has hit the highest single-day volume in the last one decade. 

The stock is trading above its 20, 50 and 200-DMA and all the moving averages are in their desired sequence and trending upwards, which validates positive bias. However, the stock has strong resistance placed around Rs 36. Hence, watch out for the price action around these levels!