Babcock - Potential bottom forming.

Buy Babcock ( BAB .L)

Babcock International Group PLC is a holding company. The Company provides engineering services. Its segments include Marine and Technology, Defence and Security, Support Services and International. The Marine and Technology segment delivers support to the United Kingdom Royal Navy's submarines, naval ships and infrastructure. It also offers solutions in engineering, equipment management, consultancy, information and knowledge management. The Defence and Security segment offers engineering and training support services.

Market Cap: £2.68Billion

Babcock appears to be in the process of forming a bottom pattern on the daily chart . A break above 576p is needed to confirm the bottom pattern. Buying now is a pre-emptive move but it offers fantastic risk/reward at the current levels. The company is likely to benefit substantially on a Brexit deal.

Stop: 490p
Target 1: 576p
Target 2: 740p
Target 2: 800p

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