ADF FOODS LTD
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ADFFOODS BEAKS OUT FROM 1-YR BASE RESISTANCE TO NEW HIGH

ADFFOODS, on the weekly scale, has just broken out from a 1-year base resistance on strong volume and is trading at new high. This week its momentum (RSI) moved into bull-zone above 60 and is rising. Its relative performance to CNX 500 crossed above its 26-week MA, and started making Higher-Highs & Higher-Lows. AS the breakout is strong, we can see some significant rally in the counter.

On fundamentals, it has an annual revenue growth of 15%, pre-tax margin of 19%, EPS growth of 17%, and is debt free. Its annual EPS has been rising since 2017. Over the last 8 quarters both sales and EPS have been rising Q on Q. Number of funds invested in the stock as well as number of shares held by funds have increased during the last quarter.


No recommendation. Only personal analysis for educational purposes. Please consult your financial advisor for any investment, or buy or sell decisions in the financial markets.
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Raju KMS Datla
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