Below is a chart of Visaka Industries Ltd. from 2003 to 2021 reflecting the year-over-year (YoY) percentage change.
We are going to review the periods when Visaka Industries was at the same level in year over year performance (red arrows) based on the closing price of July 22, 2021 and see what we can determined about where the price might go from current levels.
2002-2004
When Visaka Industries was at the same level on December 12, 2003, the stock price as at 64.30 and increased an additional +26.67% to the high of 81.45. However, had an investor held until 2004, the price decline was -45.41%.
2004-2009
On March 18, 2005, Visaka Industries has a closing price of 134.00. It wasn’t long before the share price peaked at 171.35 or a gain of +27.87%. Soon afterwards, had an investor held until the 2008 low, the share price would have fallen -75.33%.
2008-2012
On November 24, 2009, Visaka Industries matched the current level, on a YoY basis, at 129.10. The share price promptly increased to a high of 189.95, or +47.13%. The subsequent decline in the share price was -54.84% by January 2, 2012.
2016-2021
On June 12, 2017, Visaka Industries was trading at 479.90. Shortly afterwards, the share price increased to 811.00, a gain of +69%. However, by March 24, 2020, the decline in price experienced by the company was -79.27% from the 2017 level.
Conclusions
Keep in mind, the declines in price that occurred were from the original starting point listed above and not from the peak in the price. Because our goal is a focus on downside risk and potentially buying a stock at the relative low, we feel that the long-term investors or those with weak stomachs for large declines hold off on purchases of Visaka Industries at the current time. Short-term traders with a high risk tolerance and upside bias can consider these shares as a potential opportunity.
Data
