Stock Radar: Flag pattern breakout on weekly charts makes Dabur an attractive buy; likely to retest 52-week highs

Dabur India’s stock price surged above the 50-week moving average and broke out from a Flag pattern, presenting the opportunity for it to retest its 52-week highs in a month. The recent momentum is pushing the stock towards overbought levels, indicating that consolidation cannot be ruled out. However, the Relative Strength Index is at 69.1, and the MACD is above its center and signal Line, indicating bullishness. Dabur India’s stock has started to form a higher high and higher low sequence and given a valid flag pattern breakout, said Kapil Shah, technical analyst at Emkay Global Financial Services Limited.