Stock name: 360 ONE WAM Ltd.
Pattern: Resistance breakout
Time frame: Daily
Observation:
The stock has been on an upward trajectory since its listing, reaching its all-time high on August 1, 2024. Since then, it has consolidated, forming a resistance line near the body of the ATH candle. Between August and December 2024, the stock repeatedly attempted to break this resistance but closed below it each time. After a failed breakout on December 2, the stock achieved a decisive breakout on December 9, followed by a continuation candle on December 10 with strong trading volume. Currently, the stock is holding above the breakout level, and technical analysis suggests it may rise further if the momentum sustains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Titagarh Rail Systems Ltd.
Pattern: Double bottom pattern
Time frame: Daily
Observation:
The stock reached its all-time high in June 2024, followed by a cooling-off period and a downward movement. Between September and December 2024, it formed a double bottom pattern on the daily chart, breaking out on December 11 with significant trading volume. The stock sustained the breakout level in the following session. According to technical analysis, maintaining this momentum may lead to rapid upward movement. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
