Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the all-in-one-seo-pack domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/portfol1/public_html/wp/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the feedzy-rss-feeds domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/portfol1/public_html/wp/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the restrict-user-access domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/portfol1/public_html/wp/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hueman domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/portfol1/public_html/wp/wp-includes/functions.php on line 6114

Deprecated: preg_split(): Passing null to parameter #3 ($limit) of type int is deprecated in /home1/portfol1/public_html/wp/wp-content/plugins/add-meta-tags/metadata/amt_basic.php on line 118
Stock of the Day – Aban Offshore | Portfolio Yoga

Stock of the Day – Aban Offshore

A lot of theory talks about how one should look at multiple time frames before initiating a trade. Lets consider the Daily and Weekly chart of Aban and see whether looking at 2 charts makes it easy to take a call on the stock.

Below herewith is the Weekly chart;

Image

 

The weekly chart shows that the stock is pretty much below the major resistance levels we saw being created in early 2012. While the 200 average on the weekly doesn’t have any reasoning, personal observation has been that it can have an impact many a time (200 MA on weekly = 1000 MA on daily).

Now, lets move to the daily chart

Image

This chart shows a pretty bright picture with the stock after the first burst of momentum has seen continuation of the trend. The stock is currently just below the resistance level of 485 (which was tested today) and a move above it could theoretically move the stock to the next major resistance level (of 560 as seen on the weekly charts)

 

You may also like...

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.