Stock name: EPL Ltd.
Pattern: Double bottom pattern
Time frame: Monthly
Observation:
The stock experienced a downward movement starting in August 2020 and later formed a double bottom pattern on its monthly chart. In July 2021, it saw a rapid upward movement and is now above the breakout line, although the breakout isn't confirmed until the candle completes. The stock has shown a bullish indicator on its MACD chart with high trading volume, and its RSI level is in a good zone. According to technical analysis, if the stock maintains its current momentum, it may continue to move upwards.
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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: Blue Dart Express Ltd.
Pattern: Triple bottom pattern
Time frame: Weekly
Observation:
The stock experienced a downward movement from October 2022 and later formed a triple bottom pattern on its weekly chart. It broke out from this pattern in June 2024 with above-average trading volume and has since moved continuously upward. However, the RSI is now in the overbought zone, indicating a possible retest. According to technical analysis, if the stock maintains its current momentum, it may continue to rise further.
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.
News for the day:
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