Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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After reaching a high of 625.80 Great Eastern Shipping Co. entered a consolidation phase which lasted for 15 years.
After a failed breakout attempt in Nov'22, GESHIP broke out of consolidation in Mar'23 rising from levels of 532.25 to a closing price of 847.20 in Oct'23 generating 59% returns in last 8 months.
The stock hit a 52-week high of 749 on 21st Dec 2022, but failed to hold on to the momentum, falling about 29% to 532.25.
It took support and broke out from wedge pattern to reach a high of 634.20 today, rising about 19%.
In terms of price action, the stock is trading well above all the short-term and long-term moving averages.
RSI is above 55 and MACD gave...
Stock Name - The Great Eastern Shipping Company Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 555.
#This is not Buy and Sell recommendation to any one....
THE GREAT EASTERN SHIPPING as per daily chart analysis today has broken the resistance level 287 and closed at 294 level forming an doji candle stick. once the resistance 304 is broken above 305 level for a target 320 level. Happy Trading to al
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
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...
