Saxo Group Videos

Joe Neighbour thinks stocks in power solutions company Aggreko could continue to rally and he is looking to buy. 

According to Joe, a large base pattern has formed on the daily charts and Aggreko shares broke convincingly higher in Wednesday’s session.

The strength is also visible on a relative basis against the wider market, which offers further encouragement.

Joe says he is ideally looking to buy on a retest of the new support at 1105p, but adds that buying two tranches with the first one at market may be a better idea if the stock continues to run. He is placing his stop just below the recent key low at 1000p and his target for the trade is 1400p.