Top stocks with MACD crossover above the signal line
5paisa Research Team
10th December 2022 - 11:20 am
Here is the list of top stocks with a positive Moving Average Convergence Divergence (MACD) crossover above the neutral line.
Nifty 50 after resisting at 18,000 level inched lower to end the day 40.7 points (0.23%) lower at 17,889.15. At present, Nifty 50’s immediate support is placed at 17,613, whereas its immediate resistance is at 18,342 and 18,604. Nifty 50 successfully took support on its 50-Day Exponential Moving Average (EMA) depicting that the uptrend is still intact. However, its Relative Strength Index (RSI) is still trading lower to its 20-Day EMA. Also, the price is heading towards the middle line of the Bollinger band which is the 20-Day Simple Moving Average (SMA). Nifty 50 is still trading below its Parabolic SAR, indicating consolidation is not yet over. Therefore, at such times it is always wise to take stock-specific decisions.
Moving Average Convergence Divergence (MACD) is one such indicator, that will help you make better investment decisions by validating the potential breakouts. It is a trend-following momentum indicator that depicts the relationship between two moving averages of a stock’s price. In order to compute MACD, you need to subtract 26-period EMA from the 12-period EMA.
The resulting calculation is termed as MACD line. In MACD, there is also a signal line which is nothing but the nine-day EMA of the MACD. Crossover, either positive or negative, between the MACD line and the signal line can function as a trigger for buy and sell decisions. Though, traders can buy and sell stock depending upon the characteristic of the crossover but should avoid doing so. MACD can be used as an indicator that validates the breakouts or retracements.
Here is the list of top stocks having positive crossover above the neutral line.
|
Stock |
MACD |
Signal Line |
CMP (Rs) |
Market Cap (in Crs.) |
|
Grasim Industries Ltd. |
37.6 |
36.1 |
1,744.1 |
1,14,797.8 |
|
United Spirits Ltd. |
29.0 |
24.2 |
975.2 |
70,858.2 |
|
Steel Authority of India Ltd. |
0.3 |
0.1 |
122.4 |
50,537.0 |
|
Cholamandalam Investment Finance Company Ltd. |
10.1 |
10.2 |
609.8 |
50,047.5 |
|
Procter & Gamble Hygiene Heatlhcare Ltd. |
139.8 |
136.4 |
14,337.3 |
46,539.9 |
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Tanushree Jaiswal
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