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Emergency Buying in Aban Offshore
12 April 2009
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Stock : Aban Offshore
CMP : Rs 437
13 WEMA : Rs 457
34 WEMA : Rs 1006
Charts : 3 Year Weekly
Almost all the Oil Sector related stocks are making breakouts and trading above 200 Weekly Moving average (e.g Reliance, Essar Oil, MRPL, GAIL and even ONGC is nearing 200 WMA). but the only stock that is trade below below 200 week moving average and even below our favorite 13,34,55 Week Exponential Moving Average line. Also Rate of Change indicator (ROC-10) is very close to 0(-9.6) indicates that breakout is very nearer.
So in near term aban will try to test atleast 34 Week EMA(Rs 1006) if trades above 13 Week EMA(Rs 457).
So this is an emegency declaration for Investors and short term traders to find oppurtunity in Aban offshore with
stop loss near Rs 400.
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Written by:
Rajandran R
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Aban Near 488
dear raj,cn v still buy aban.if yes what shud b the stoploss
Aban trading at 485. And also 10 day momentum indicator turn positive suggesting more upmoves in future
Aban Complete’s Its target Rs 1000 Today