Stock name: Minda Corporation Ltd.
Pattern: Double bottom pattern
Time frame: Daily
Observation:
After reaching its ATH in August 2024, the stock experienced a cooling-off period. Between October and December 2024, it formed a double bottom pattern on the daily chart and registered a breakout on December 10, 2024, supported by strong trading volume. The breakout was sustained in the following candle. According to technical analysis, if the stock maintains this momentum, the stock may see further price appreciation. 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: Chalet Hotels Ltd.
Pattern: Ascending triangle pattern
Time frame: Daily
Observation:
The stock reached its previous all-time high (ATH) on March 28, 2024, and formed a resistance line around that level. Despite an overall upward trend, it struggled to break through this resistance. Between December 2023 and December 2024, the stock formed an ascending triangle pattern on the daily chart and achieved a decisive breakout on December 9, 2024, supported by high volume. As per technical analysis, if the stock sustains this momentum it may rise further. 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.
