ABAN OFFSHORE
- As per previous report published on ABAN OFFSHORE, Stock gave a intraday move after breaking its resistance @ 763, made a intraday high around 775, but failed to close above 763. (Click here to see previous report published on ABAN OFFSHORE).
- Now current technical chart no1 indicates that stock is moving in a up channel formation, as long as stock trades in between channel pattern it will be favored by bulls, sharp weakness expecting once it comes out.
- As per chart no2, stock is facing is again going to test its 50% fibonacci retracement support around 687, if stock closes and stays below 687 then further weakness is expecting.
- Suggested Reading - Investing in penny stocks.
- Intraday Tips - if stock starts trading below 687 during trading hours then intraday weakness is expecting.
- Chart no3 indicates that 50 DMA is playing a important role earlier it was acting as a support for Aban Offshore, now it is acting as a major resistance, as long as stock trades below 50 DMA bears will be favored and we can see further price fall in Aban.
- Also See - DREDGE CORPORATION has formed doji formation in monthly chart, sharp move expecting in coming days.
- According to to chart no4, stock had formed small range bound zone at current levels, when it comes out then sharp move is expecting. Upper side breakout level is 775 and downside is 687. Close watch as long as trades in between its range stock will remain Zig Zag.
- Click here to see all the free trading reports (tips) published by us on ABAN OFFSHORE.
- Stock market advice.
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