10 stocks poised to enter strong trend zone, shows ADX scan
Considered the ultimate trend indicator, ADX or Average Directional Index helps quantify signal strength. The tool can be used with respect to any investment vehicle including stocks, mutual funds, ETFs and derivatives. Here we have collated a list of 10 stocks with an m-cap of over Rs 1000 crore that are entering a strong trend zone based on ADX. Further, note that for these stocks ADX has gone above 40 from below. (Source: StockEdge)
This ADX or Average Directional Index is a trend indicator that measures both the intensity as well as the momentum of the stock. Following the trend, helps to minimize losses and also increases the scope of potential gains. The indicator’s calculations are based on a moving average of price range expansion over a time period.
Importantly, it does not highlight whether the said trend is bullish or bearish. It is for the trader/investor to identify by viewing the share price chart.
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ADX as on July 14: 41.18| Previous ADX: 39.49| Last close: : Rs 540.3| % change: 2.8%
ADX as on July 14: 40.05| Previous ADX: 38.8| Last close: : Rs 108.45| % change: -0.8%
ADX as on July 14: 41.13| Previous ADX: 39.89| Last close: : Rs 2424.7| % change: -2.1%
