Stock name: AIA Engineering Ltd.
Pattern: Double bottom pattern retest
Time frame: Daily
Observation:
Since February, the stock experienced a sudden decline, then stabilized, forming a double bottom pattern on its daily chart. It broke out from the pattern on June 18, 2024, but a high RSI value caused a retest of the breakout level. The stock successfully rebounded and is now moving upwards. According to technical analysis, if it maintains the current momentum, it may continue to rise.
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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: Oil & Natural Gas Corporation Ltd.
Pattern: Rounding bottom pattern
Time frame: Monthly
Observation:
The stock has formed a rounding bottom pattern on its monthly chart since 2014 and is currently above the breakout line. This month's candle is still forming, making it crucial to see if the stock can sustain its breakout position upon completion. The RSI indicates an overbought zone, which might cause a retest at the breakout level. If the stock maintains momentum and trading volume, technical analysis suggests it may move higher.
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.
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