Top Trending Stock: The stock of this company remains in top trending, all signs of growth are visible, know the targets – aegis logistics stock remains in top trending

Mumbai: There is a state of ups and downs in the stock market. However, despite the fall in the market, many stocks are seeing a boom. A lot of buying is being seen in these stocks. Shares of Aegis Logistics (NSE code – AEGISCEM) rallied over 6% during Friday’s trading session despite a volatile market environment. This midcap company provides services in the oil and gas domain. The stock has hit a 52-week high of Rs 388.80 on the NSE.

Technically, the stock has broken out from its 35-day period with above-average volume. Its volume has been higher than the 30-day and 50-day average volumes. Thus giving a strong buying signal. All short- and long-term moving averages are in an uptrend. At the same time, all the timeframes indicate a bullish trend. The 14-day RSI (62.52) is showing strength in the stock. The rising OBV of the stock indicates strong trading activity in the stock. Relative Strength (RS) is positive and indicates the outperformance of the stock vis-à-vis the broad market. Overall, the technical setup is bullish, and the stock is expected to move higher in the coming days.

The medium term resistance lies at Rs 400, after which significant upside potential can be seen in the stock. Meanwhile, a strong support lies near Rs 355 level and this can act as a good buying level. In the last one year, the stock has given more than 70% return to its shareholders. Traders can keep a close watch on this stock for the upcoming trading sessions.

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