Technical Stock Pick: This auto component stock nearly doubles from 52-week low; reclaims 200-weekly EMA

January 30, 2024

Samvardhana Motherson Ltd, an auto component company, has experienced a surge in its stock price, reaching a 52-week high and showing an impressive 80% increase from its low in March 2023. This strong momentum is supported by the significant role played by the 200-weekly Exponential Moving Average (EMA), which has transitioned from acting as a resistance to now serving as a crucial support for the stock.

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