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Showing posts with label GE Shipping. Show all posts
Showing posts with label GE Shipping. Show all posts
Sunday, September 09, 2012
Wednesday, September 29, 2010
Monday, August 02, 2010
Wednesday, March 10, 2010
Wednesday, June 11, 2008
Today's Pick - GE shipping
We recommend a sell in Great Eastern Shipping Company from a short-term perspective. From the charts of the stock, we note that it was on a medium-term uptrend from its March 2008 low of Rs 311, till it recorded a peak at Rs 537 in late May.
On June 4, the stock conclusively penetrated the medium-term up trendline as well as the 21-day moving average line. The stock continued to head Southward and penetrated the key support level Rs 450 by tumbling 6 per cent with above-average volume on June 10.
With this decline, the daily momentum indicator has entered the bearish zone form the neutral region. The moving-average convergence and divergence is in line with the stock and is likely to enter the negative territory. We are bearish on the stock in the short-term horizon.
We expect the stock’s decline to continue until it hits our price target of Rs 380 in the upcoming trading sessions. Traders with short-term perspective can sell the stock, while maintaining the stop-loss at Rs 452 level.
via BL
Monday, March 31, 2008
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