You must be wondering if ABAN offshore limited share / stock is a good BUY or not? Well, In this post We will analyze the stock both technically and fundamentally to find out the answer. ABAN offshore limited falls in the crude oil sector with OIL INDIA LTD, ASIAN ENERGY Services being it’s peers.
Contents
Technical Analysis – ABAN OFFSHORE LIMITED
- The above chart is of ABAN offshore limited share price on a monthly time frame. As you can see, ABAN offshore stock has had nightmare at the Indian stock exchange in last 2 decades.
- Price has dropped to as low as 14, and currently this stock is consolidating. it is trading around Rs.39.85 as of 24/07/2023
- We can see some positive technical analysis for ABAN Offshore ltd share – The price has fallen spontaneously without any deep corrections / retracement. We are expecting this stock to retrace above in 2023-24
- Also, there is some bullish price action on monthly time frame at the support level. Technically, ABAN offshore ltd is expected face resistance around 110-130 area.
- It’s a good BUY in 2023-24 for traders who want to hold for short-term or medium-term, but we need more price action to develop on the chart to see if it’s fit for long-term investment.
Fundamental Analysis – ABAN Offshore Limited
Below is a table showing fundamentals of ABAN offshore limited
| P/E Ratio | -0.21 |
| P/B Ratio | -0.01 |
| P/S Ratio | 0.59 |
| Sharpe ration (12 months) | -0.25 |
| Debt/Equity ration (3 Years Average) | -1.09 |
| promoter shares | 19.7% |
As you can see in the table above, the fundamentals of ABAN offshore ltd are very poor. Based on this fundamental data you can safely say that, ABAN offshore ltd share is not good for long-term investment, at least for now!
However, based on technical analysis you can definitely BUY ABAN offshore shares for short term until the 110-130 level.
So, is ABAN offshore limited share is a good BUY?
The answer is YES! for short-term investment, and NO! for long-term investment.
CONCLUSION
ABAN offshore limited stock is trading at the lowest level compared to the last decade. Technically, it is a good short-term buy in 2023-24. Fundamental analysis of this share shows that the fundamentals of this company are very poor and hence not good for long-term investment.
Disclaimer: Author is not registered with SEBI, this post is his/her own opinion. This is not an investment advice and this is for educational purposes only. Please consult registered financial experts for investment advice.