Technical Analysis of ESCORTS & HEG

Technical Analysis of ESCORTS & HEG

Stock name: Escorts Kubota Ltd.

Pattern: Double top pattern

Time frame: Weekly

Observation:

The stock has been in an overall uptrend, reaching an all-time high in September 2024. However, between May and October 2024, it formed a double top pattern on the weekly chart, breaking down from the pattern in late October. Following a brief retest, the stock has been moving downward. If the current momentum persists, technical analysis suggests the stock may experience further declines. 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: H.E.G. Ltd.

Pattern: Resistance breakout

Time frame: Weekly

Observation:

Post-COVID, the stock recovered until October 2021 before declining, establishing a resistance level at that point. By April 2024, it had recovered to this resistance and made multiple attempts to breach it from there onwards. At the start of December 2024, the stock broke out with strong upward momentum and has since sustained its position above the resistance line. If the momentum continues, technical analysis suggests the stock may 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.

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