The Outperformers

August 4, 2022

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 the chart to enlarge the view

In our last post, we looked at Britannia Industries.

Today we're taking a look at a stock from the Consumer Goods sector. Paints have been picking up pace. The stocks are beginning to participate in the market move and we will discuss one such stock today.

Asian Paints has been moving sideways for a while now, but the price is certainly making advances that are grabbing our attention. The stock moved past the resistance zone of 3,430, in addition to moving into strong bull market territory when it comes to the RSI indicator.

With a breakout finally coming through after a sideways move lasting longer than a year, this is certainly one to watch out for.

We are bullish above the risk management level of 3,430, with a target close to 5,025. It is important to be cautious when the market is deciding its further course of action. We recommend following the risk management levels diligently.