Stock name: JBM Auto Ltd.

Pattern: Double top pattern and retest

Time frame: Daily

Observation:

The stock has been in an uptrend since January 2023, but from January to October 2024, it formed a double top pattern on its daily chart. In late October 2024, the stock broke down from this pattern, leading to a downward move. After an initial decline, it retested the breakdown level and resumed its downtrend on November 7, 2024, marked by high-volume red candle. If the current momentum continues, technical analysis suggests further declines may follow. 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.

Stock name: Marico Ltd.

Pattern: Triple top pattern

Time frame: Daily

Observation:

After a period of consolidation, the stock began an uptrend in March 2024. Between July and November 2024, it formed a triple top pattern on its daily chart and broke down from this pattern on November 11, 2024. A large red candle with strong volume on November 12 confirmed the breakdown. According to technical analysis, if this momentum persists, the stock may experience further declines. 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.