After Analysis: Gokaldas Exports
Q1: - When was a entry point in Gokaldas Exports?
Ans: Gokaldas Exports gave a perfect breakout on Weekly charts that gave a 40% move in 5 days from 96 levels.
Q2: Entry was there at 96, was there a sign of exit on Weekly Charts?
Ans: No, the stock didn't gave a exit signal as per weekly candles, but there were sign of exhaustion on both weekly charts and daily charts.
Disclaimer: No Personal holding in the stock. Kindly do no consider this as any buy/sell recommendation. This article is based on the price move the stock has shown in past few months.
Q1: - When was a entry point in Gokaldas Exports?
Ans: Gokaldas Exports gave a perfect breakout on Weekly charts that gave a 40% move in 5 days from 96 levels.
 |
| Weekly Chart |
Q2: Entry was there at 96, was there a sign of exit on Weekly Charts?
Ans: No, the stock didn't gave a exit signal as per weekly candles, but there were sign of exhaustion on both weekly charts and daily charts.
 |
| Daily chart |
The stock was showing selling tails on daily chart when it traded above 130 levels for 4 days in a row signaling that the short term buyers are not able to take prices higher from this level. The stock finally gave up from higher levels and entered a consolidation phase above the breakout it gave at 96 levels waiting for a new trigger for buying to emerge.
While the trigger came in form of results but that made the stock to move down below the breakout of 96 and is now trading at 81 levels leaving a lot of people holding the stock above the breakout level now.
While there were leading Technical analysts that were bullish due to the structure and kind of move in the stock, i think they missed the exit or took the stock for granted. But ask them now, they will certainly be having different views.
Summary: If you would have entered at 96 then a exit sign was only at the highlighted circle near to 130, rest phase was just a consolidation / distribution phase. Now that stock is again below 96, the same level will act as a resistance for any upmove.
Disclaimer: No Personal holding in the stock. Kindly do no consider this as any buy/sell recommendation. This article is based on the price move the stock has shown in past few months.
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