Buy ABB India LTD ( NSE: ABB )

5 Jan

Buy ABB India LTD ( NSE: ABB )

  • The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which indicates that the trend is up and the stock could further accelerate its upside movement.
  • On a daily chart, the stock has taken a strong support of its 50 days exponential moving average and forming a strong accumulation level which suggest an upcoming northward move in the counter.
  • On a weekly chart, the stock has started to trade above the 20 weekly exponential moving average with healthy volume activity which shows short to mid term up trend movement.
  •  A daily momentum indicator RSI and MACD indicator is showing the positive crossovers  which point out for a positive breath in the stock.
  •   Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.

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