Stock name: Procter & Gamble Hygiene & Health Care Ltd.
Pattern: Support and reversal
Time frame: Daily
Observation:
The stock experienced strong upward movement from August to November 2023, followed by a cooling phase until March 2024. Since then, it has traded sideways, establishing a support level at around March 2024 low. On November 12, 2024, the stock rebounded from this support, showing high volumes and forming multiple green candles as it moved upward. If the momentum continues, technical analysis indicates that the stock may see further gains. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator. Top of FormBottom of FormBottom of Form
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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: Godrej Industries Ltd.
Pattern: Support and reversal
Time frame: Daily
Observation:
The stock has been trending upward since April 2023 and formed a cup and handle pattern between May and August 2024, followed by a breakout. The breakout level now acts as support. The stock has seen a good upward movement after the breakout before declining in line with the broader market. On November 18, 2024, it rebounded strongly with high volumes around the support level. If the stock sustains its momentum, technical analysis suggests that it may see further gains. 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.
