GE Shipping | Cup and Handle breakout | Latest stock market news
(3 minutes read)

Stock name: GE Shipping

Pattern: Cup and Handle breakout

Time frame: Daily

Observation:

The stock has been consolidating in the form of a Cup and Handle pattern and has today broken out of the same with heavy volumes. However, today it has formed a shooting star candle, that too on big volumes, which is a bearish sign. Hence, one should be cautious as there is no clear sign.

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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.

News for the day:

1) India examining recommendation to impose countervailing duty on Chinese steel imports

2) IKIO Lighting makes a wonderful debut, lists at 38% premium over IPO price

3) Shares of Ramkrishna Forgings jumped 8% today, after the company and the Titagarh Rail Systems consortium won a contract for Rs. 12,226.5 crores to deliver 15.4 lakh forged wheels over 20 years, under the Atmanirbhar Bharat Initiative by the Ministry of Railways.