GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO) have moved lower over the course of the past few months revealing negative downward momentum for the shares as they have dipped -3.12 over the past 13 weeks. In taking a look at more recent performance, we can see that shares have moved 3.33% over the past week, 3.33% over the past 4-weeks, 10.71% over the past half year and -49.18% over the past full year.

Investors may be doing a portfolio evaluation as we head into the second half of the calendar year. Assessing results from the first half may help identify what went right, and what went wrong. Many investors may have missed the charge, and they keep hoping for stocks to retreat to go on a buying spree. Gaining a solid grasp on the markets may take years to truly figure out. Combining technical analysis and tracking fundamentals may provide a large boost of confidence to the investor. Being able to sift through the countless chatter may take some perseverance and extreme focus. Creating a winning portfolio might only be a few sharp trades away.  

When looking at technical levels, traders should not overlook the RSI reading as it often can dictate if momentum has pushed past a key metric. The current 7-day RSI stands at 56.91, and the 3-day is sitting at 54.23.

The Relative Strength Index (RSI) oscillates between 0 and 100. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70.

Looking further at additional technical indicators we take note that 14-day Commodity Channel Index (CCI) for GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO) is sitting at 134.04.

CCI Quick Facts

Used to Identify start of a trend
Used to Identify end of a trend
Alternative metric for spotting oversold/overbought territory
Designed by Donald Lambert
Reading levels close to +100 point to potential overbought range while a reading close to -100 would indicate possible oversold territory.

Near Term M/A Update

Designed by Donald Lambert
Reading levels close to +100 point to potential overbought range while a reading close to -100 would indicate possible oversold territory.

Shares of GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO) have a 7-day moving average of 0.30. Moving averages can help spot trends and price reversals. They may also be used to help find support or resistance levels. Moving averages are considered to be lagging indicators meaning that they confirm trends.

Investors may be watching technical indicators such as the Williams Percent Range or Williams %R. GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO)’s Williams %R presently stands at -25.00. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.

Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO) is noted at 23.57. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

The Williams Percent Range or Williams %R is a technical indicator worth taking a look at. GOENKA DIAMOND & JEWELS LTD. (GOENKA.BO) currently has a 14 day Williams %R of -25.00. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

One of the most famous sayings in the stock market is “buy low, sell high”. This may seem like an oversimplified statement, but there are many novice investors who often do the complete opposite. Many investors may be looking too closely at stocks that have been on the rise, and they might not be checking on the underlying fundamental data. They may be hoping to ride the wave higher, but may end up shaking their heads. On the flip side, many investors may hold onto stocks for far too long after they have slipped drastically. Waiting for a bounce that may never come can cause frustration and plenty of second guessing. Successful investors are typically able to locate stocks that are undervalued at a certain price. This may take a lot of practice and dedication, but it may do wonders for the health of the portfolio.