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Trading at a 5 years high, this penny stock in on the verge of a breakout

Yogesh Supekar
/ Categories: Trending, DSIJ News

Penny stocks have had a great 2020 and in recent month we have seen increasing interest in penny stocks by investors.

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Trading at a 5 years high, this penny stock in on the verge of a breakout

Markets are in great shape and Sensex while trading at life highs is helping build a positive sentiment and feel-good factor about being an investor in equity markets. The positive sentiment is leading to increased participation in the markets and with increased participation the demand for small caps, microcaps and penny stocks is on the rise. 

Penny stocks have had a great 2020 and in recent month we have seen increasing interest in penny stocks by investors. 

3i infotech is one such stock that has caught investors imagination. This IT penny stocks is trading close to its five-year highs and is showing signs of a breakout. The stock is witnessing higher trading volumes on BSE in the past few trading sessions even as fundamentally the company continues to struggle with flat earnings growth. 

Penny stocks are often considered risky bets and more often than not leads to losses in investors account. However, not all penny stocks destruct wealth. We have seen Subex, another IT penny stock revive its fortune by smartly allocating its capital and reducing debts to increase profitability. Subex’s ROCE improved manifold while it showed recovery.

Question is can 3i infotech emerge victorious and come out of woods. 

The stock is up by over 35 per cent on YTD basis while in one year the stock is up by more than 422 per cent.  

 

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