Lookin at another bullish continuation. Ascending triangle taking shape. Will target the neckline resistance for an R of 2.55.
Adding this one to my portfolio. The share price will strengthen to £6.25p region in the near term. In my view, this is a great pick up point! This is not financial advice, please consider your own Due Diligence and Risk Management.
Will BAB break out from its H&S pattern which started in Dec 2018 ?
Buy Babcock (BAB.L) Babcock International Group PLC is a holding company. The Company provides engineering services. Its segments include Marine and Technology, Defence and Security, Support Services and International. The Marine and Technology segment delivers support to the United Kingdom Royal Navy's submarines, naval ships and infrastructure. It also offers...
Recently oversold with signs of uptrend Hold till resistance level/signs of bearish reversal Place stop loss at 733 Ris/reward ratio: 4
It might need a bit more confirmation but to me this UK stock looks ready to resume it's uptrend and begin a wave 5.
Babcock has failed at the top end of a well-defined downtrend channel. The shares are under performing the benchmark on a relative basis across multiple time frames and making new lows. Sell with a stop at 963.5p and target 851p