Weekly stochastic crossover seen in Yes Bank; stock zooms nearly 6 per cent

Yes Bank went up by nearly 6 per cent on an intraday basis on Monday even as Sensex gained by 50 points or 0.10 per cent.

Yes Bank went up by nearly 6 per cent on an intraday basis on Monday even as Sensex gained by 50 points or 0.10 per cent. 

In technical parlance, Yes Bank witnessed a weekly stochastic crossover during Friday’s closing session. This is considered a bullish indicator and may help keep Yes Bank stock prices in green for the near term. 

Yes Bank, a popular stock with investing public, has been one of the biggest disappointments of recent times with the advance-growth rate (YoY) for YES Bank Ltd turning negative for the first time in the last five years. The stock is down by more than 93 per cent in the past five years. In one month, however, the stock went up by nearly 9 per cent. It reflects a beta of 3.65 thereby, suggesting its extreme volatility and riskiness. 

Yes Bank has posted a loss of Rs 3,790.92 crore in March 2021 quarter after three consecutive quarters of profits.