ABB India hits record high; stock overbought for 17 sessions

ABB India

26/05/2023 09:49

** Shares of ABB India Ltd  ABB.NS  rise as much as 1.8% to record high of 4,012.30 rupees
    ** If trends hold, stock on track to advance for second consecutive session
    ** Stock trading above its 50-, 100-, and 200-day exponential moving averages
    ** About 228,660 shares change hands by 2:07 p.m. IST, 0.6x the 30-day avg - Refinitiv Data
    ** For 17 consecutive sessions, Relative Strength Index (RSI) has been remained over the
upper limit of 70, indicating that the stock is overbought 
    ** 13 of 28 analysts covering the stock have a "buy" or higher rating, nine "hold" while six
rate it at "sell" or lower; median PT is 3,688 rupees
    ** Stock last up 0.9%, extending YTD gains to 48.3%


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))