Penny stocks: T20 breakout stocks to keep an eye on!

we have come out with the top three penny stocks that have witnessed breakout based on the T20 breakout system.   

On Friday, a tale of two markets was witnessed on D-Street wherein, the key benchmark indices extended their fall for the fourth straight day while the broader markets ended the day in the green.   

Nifty Midcap 100 & Smallcap 100 added 0.04 per cent and 0.13 per cent, respectively. As a result, the broader market outperformed the key benchmark indices.   

With the continued outperformance from the broader market i.e. Nifty Midcap and Nifty Smallcap, one thing is very clear that the market is going to witness stock-specific action. However, one needs to be selective in the stock selection; hence, we have come out with the top three penny stocks that have witnessed breakout based on the T20 breakout system.   

So, here is the list: 

HLV Limited: The stock witnessed good action on Friday as the volume and price criteria of the T20 breakout system have matched. Furthermore, the bulk of the volume in the stock has been witnessed in the second half of the trading session.   

Energy Development Company: The stock met the criteria of the T20 breakout system and witnessed a trending day. Furthermore, it closed near the day’s high; hence, keep a close watch on this stock.     

Compucom Software: The stock outperformed the benchmark indices as well as the broader indices. It has recorded its highest single-day volume in a long time. Volumes were robust and it has managed to close near the day’s high. Hence, keep a close watch on this stock.