News:
Tech Mahindra to acquire software services unit
of German chemicals giant BASF
Result: Tech
Mahindra jumped over 2 percent intraday on Friday 28th Feb 2014. Investors
are curious about the stock as the software company is expanding its position
in Europe by acquiring software services unit of German chemicals giant BASF.
Now what
technical chart says?
1] Strong trendline from the 2 months period from December 2013 to
February 2014.
2] Stochastic crossing each other - %K crossing %D which signifies higher possibility of stock moving up.
3] Positive RSI: Here in the following image you can see that RSI is moving upward direction.
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