ShrutiAggarwal
Member Since 8 December 2015
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Last Seen: 11 Mar '19
Posted on 23 June 2017, 8:02 AM

Aveva Group plc., a buy as upmove shall likely to continue

Topics: Analysis
Other Insights on Related Shares: AVV.L

Aveva Group plc. is a holding company. The Company provides engineering, design and information management software. It operates in three segments: Asia Pacific, Americas, and Europe, Middle East and Africa (EMEA). Its engineer products include Aveva Diagrams, Aveva Electrical, Aveva Engineering and Aveva Instrumentation. Its design products include Aveva Bocad Steel, Aveva Bocad Onshore, Aveva Bocad Offshore and Aveva Bocad Tower. Its manage products include Aveva Catalogue Manager, Aveva Clash Manager, Aveva Engage, Aveva Material, Aveva Planning and Aveva Global. Its build products include Aveva Assembly Planning, Aveva Automated Plate Nesting and Aveva Bocad NC. Its operate products include Aveva Activity Visualisation Platform, Aveva Change Manager, Aveva Control of Work and Aveva WorkMate. It solution suites comprise integrated combinations of solutions and applications for enterprise-level requirements, such as integrated engineering and design and enterprise resource management.

Aveva Group Plc. is a compelling buy at the current levels. The stock has been one of the top gainers on the London stock exchange on 22nd June as the stock finished trading on the London stock exchange at 2070p a share, up by 4.92% compared to the previous close. The up move shall likely to continue in the stock as the momentum oscillators also point out towards the rally of the stock. In terms of charting or technical analysis, the stock had made a bullish engulfing candle on 22nd June and if today the stock manage to trade above yesterday’s high i.e. 2096p and gave a positive closing then it would further confirm the upward movement in the stock. We would advise traders or investors to initiate fresh long positions in the stock if the stock would successfully breach 2096p, a breakout above 2096p could take the stock to 2250p. Therefore we recommend buying Aveva group plc. above 2096 with a target and stop loss of 2250p and 1990p respectively. Currently, the stock has been trading above 20 day moving average (DMA), 50 DMA and 100 DMA of 1985p, 1925p and 1850p respectively. A stock trading above its moving averages also indicates that bulls are intact. Hence, traders or investors are advised to keep an eye at the respective levels and accordingly hedge their positions.

 


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