Stock name: Alkyl Amines Chemicals Ltd.
Pattern: Triple Bottom Pattern and retest
Time frame: Daily
Observation:
As discussed in the previous blog (link to the blog), the stock has formed a triple bottom pattern on its daily chart. The stock has registered a breakout at the start of September 2024. Post breakout the stock has moved in the upward direction for a period and then seen retest. On 18th September 2024, the stock has seen a good rebound with high volumes. This strong upward movement has helped the stock maintain the breakout level, and it may see continued bullish momentum. 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.
Stock name: Nuvoco Vistas Corporation Ltd.
Pattern: Inverse head and shoulder pattern
Time frame: Daily
Observation:
Since its 2021 listing, the stock had been in a downtrend but recently stabilized. From July to September 2024, it formed an inverse head and shoulders pattern on its daily chart. A breakout occurred on 17th September 2024, supported by strong volume. If the stock maintains this momentum, technical analysis suggests it could see further 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.
