Stock name: Bayer Cropscience Ltd.
Pattern: Double bottom pattern and retest
Time frame: Weekly
Observation:
Since September 2020, the stock has experienced a decline, followed by stabilization, marking a double bottom pattern on its weekly chart. December 2023 witnessed a breakout from this pattern. However, post-breakout, the stock underwent a rigorous retest, slipping below the pattern's neckline. Presently, the stock has rebounded from the retest, accompanied by a favourable RSI level. As per technical analysis, if the stock continues with the current momentum, it may see continuation of the upward trajectory.
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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: Muthoot Finance Ltd.
Pattern: Cup and handle pattern
Time frame: Weekly
Observation:
The stock has shown a consistent upward trend. During the period from January 2022 to April 2024 the stock has formed a cup and handle pattern on the weekly chart. In the first week of April 2024, the stock broke out from this pattern, backed by above-average trading volume and a bullish MACD indicator. According to technical analysis, the stock may sustain its upward momentum if it maintains its current trajectory.
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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.
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