India's Olectra Greentech hits near 16-mth high, indicates bullish bias

Olectra Greentech

05/06/2023 05:32

** Shares of Olectra Greentech Ltd  OLEC.NS  rise as much as
6.5% to 820 rupees
    ** OLEC shares hit highest since Feb. 8, 2022
    ** About 1.6 mln shares change hands by 9:42 a.m. IST, 1.3x
the 30-day avg - Refinitiv Data
    ** Stock trading above its 50-, 100-, and 200-day
exponential moving averages consecutively since March 8
    ** If trends hold, stock on track to advance for fifth
consecutive session
    ** Moving average convergence divergence line over the
signal line for nine sessions, suggesting bullish momentum
    ** Relative strength index over the upper limit of 70 for
four straight sessions, indicating the stock is overbought 
    ** Stock last up 4.7%, extending YTD gains to ~64%; rose
11.1% in May

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))