The Outperformers

May 12, 2021

We debuted a new scan recently- The Outperformers.

The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.

The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.

Here is the list of The Outperformers that we sorted by way of relative strength. These stocks have been selected on the basis of inter-, and intra- sectoral performances. So while these belong to the sectors that are outperforming the market, these stocks are also outperforming their peers within the same sector.

Click on chart to enlarge view.

In our last post, we looked at Wipro.

So what do we have this week?

Well, we're moving from one IT outperformer, to another!

Coforge had been moving sideways for a little while there. But we got a nice move last week and the price seems to be holding the highs this week. The momentum is trading extremely close to the bullish territory and more importantly we're seeing price consolidation at new highs. That's always a positive!

While the level of 2,850 is a strong support level, a minor support can now be seen at the level of 3,170. This is the level we'd like to track going forward.

We are bullish above the level of 3,170 with a target near 4,160. The same levels are applicable on the weekly chart as well.