63 Moons Technologies: An ideal stock for risk-takers!
The stock is up by 10 per cent today, hitting its upper circuit limit.
63 Moons Technologies Limited is engaged in providing computer programming, consultancy, and related services. The company's segments include STP Technologies/solutions, exchange-based, storage & allied services, and others. This IT company has a market cap of just Rs 541 crore. The business fundamentals of the company do not look good as 63 Moons reports decreasing revenue YoY and posts losses annually. However, the company management strives hard to improve the financial condition of the company.
However, the performance of the stock tells a different story as it delivered good returns of 43.77 per cent YTD while its 3-month performance stands at 28.45 per cent.
63 Moons is trading strong technically as it is currently trading at its 52-week high. The stock is up by 10 per cent today, hitting its upper circuit limit. Strong buying with increasing volumes is seen in the past few days. The stock is trading well above its 20, 50, 100, and 200-DMA. The RSI is going strong at 80, which shows strength in the stock. The directional movement index also validates strong bias towards the stock as +DMI is well above the -DMI. Technically, the stock is sound for short-term trading and can be an attractive bet for traders.