A bullish engulfing candle on the EOD chart of Aban Offshore subsequent to a correction, makes it a strong buy contender.
20 and 50 EMAs are all set for a positive cross-over, so is Macdh. Rsi has found support at a month and half old trendline and is positively diverged. Slow as well as fast Stochastics are in an upswing as well.
Additionally, a higher high and higher low, again affirms the uptrend.
At 1240-1250, accumulating the stock with an immediate tgt of 1380, and an intermediate tgt of 1465, seems like a promising pick.
Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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