GESHIPPING has formed flag structure at the support/resistance zone of 375 and has broken out of the flag. Also, this zone was previous resistance and has acted as decent support this time. 375 zone is also the 61.8 Fibonacci zone of the bigger range. The stock has found support at confluence of multiple technical indicators and has exhibited bullish candle with...
#GESHIP (W):- Since March 23, 2020, the price has been following a supportive trendline. Now, the price has returned to that trendline, with a nice reversal candle :)
#Disclaimer:- View shared is for educational purposes only. Conduct your due diligence before making any trading/investment decisions.
Technically Sound to go up at bottom of Uptrend channel.
Oversold past few months.
Buy only after huge Demand and Retest around 300.
Fundamentally, Good outlook to produce profits as Crude oil shipping has seen increasing demand with backbone of Manufacturing requirement output higher than 2020.
Risk Within your apetite only!
price can give a good bounce back from here, anticipating a trend reversal from the current market price
A good trader never predicts a move in stock market because nobody can predict the market. A good trader anticipate a move through his technical and fundamental analysis . And there is no 100% sure trade, there is always risk involved. Don't forget "Risk hai...
It can be seen in the daily charts that the stock has formed a double top pattern at the levels of 336 and has also broken the resistance of 306 levels. Hence you can short it for a target of 293 and 276. Happy Trading!
GESHIP has been rising the past week on account of its dividend issuance. The Ex-Dividend day is on 09-06-2020 i.e Tuesday.
Prices usually tend to correct themselves on this day.
Combined with the DOJI formed on daily timeframe at an important resistance zone yesterday, one can look for shorting opportunities in intraday below 231.