Stock name: Raymond Ltd.
Pattern: Double bottom pattern and retest
Time frame: Daily
Observation:
From September 2023, the stock experienced a downward trend before stabilizing, forming a double bottom pattern on its daily chart. A breakout from this pattern occurred on April 3, 2024, backed by above-average trading volume. Following the breakout, there was a significant retest of the breakout level, leading to a favourable cooling off of the RSI. According to technical analysis, a successful rebound from this retest may signal further upward movement for the stock.
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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: Bosch Ltd.
Pattern: Rounding bottom pattern
Time frame: Monthly
Observation:
Since 2015, the stock has declined until COVID-19, then found stability. Subsequently, it rebounded, forming a rounding bottom pattern on its monthly chart spanning from February 2015 to February 2024. February 2024 saw a breakout from this pattern, accompanied by robust trading volume. Following the breakout, the stock trended upward. According to technical analysis, sustaining this breakout momentum may propel the stock higher.
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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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