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Breakout Gain Backed By +462% Above Average Volme - Thursday, February 13, 2020
Endava Plc Cl A Ads (DAVA +6.67 or +13.81% to $54.98) was highlighted in yellow with a new pivot point cited based on its 12/26/19 high plus 10 cents in the earlier mid-day report (read here) . It spiked to a new all-time high with a big volume-driven gain today triggering a technical buy signal. It found prompt support near its 50-day moving average (DMA) line ($46.95) during recent consolidations.
Bullish action came after it reported earnings +60% on +24% sales revenues for the quarter ended December 31, 2019 versus the year ago period, marking its 6th consecutive quarter with earnings increasing above the +25 minimum guideline (C criteria).
The Computer-Tech Services firm completed a Secondary Offering on 4/17/19. Limited history was noted as a concern for this UK-based Computer - Tech Services firm since it completed its $20 IPO on 7/27/18. The number of top-rated funds owning its shares rose from 66 in Mar '19 to 141 in Dec '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been near neutral concerning accumulation/distribution over the past 50 days. It has a Timeliness Rating of B and Sponsorship Rating of B.
