Affle (India) hits record high; rises 14% in three days

Affle (India) hit an upper circuit of 5% at Rs 3591.25, rising for third consecutive trading sessions.

The counter jumped 13.6% in three trading sessions from its previous closing low of Rs 3161.4 on 25 November 2020. It hit a record high of Rs 3591.25 in intraday today. The counter is up 295% from its 52-week low of Rs 908.95 recorded on 30 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 75.515. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 2868.39 and 2544.21 respectively. These levels will act as crucial support zones in near term.

Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant mobile advertising.

The company's consolidated net profit jumped 73% to Rs 26.98 crore on a 59.3% rise in net sales to Rs 134.95 crore in Q2 September 2020 over Q2 September 2019.

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