The Great Eastern Shipping Company Limited (GESHIP) Stock - Complete Technical Analysis - Sep 06, 2024

Great Eastern Shipping (GESHIP) Stock Analysis Key Support, Resistance

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

The Great Eastern Shipping Company Limited (GESHIP) is currently trading at 1,295, positioned 16.13% below its 52-week high of 1,543.7, with strong recovery from its 52-week low of 727.5. The stock is in a consolidation phase, reflected by the RSI at 44.41, indicating it's neither overbought nor oversold, while the ADX at 15.83 suggests a weak trend. The MACD is signaling bearish momentum with a downward slope, and momentum at -22.7 confirms the weakening of upward drive. Additionally, CCI and Williams %R indicate the stock is nearing oversold territory, potentially hinting at a bounce.

On the moving averages front, GESHIP is hovering around key levels, with the 50 EMA and 200 EMA providing strong support around the 1,100 to 1,300 zone, while resistance is observed near 1,350. With an Ichimoku Base Line of 1,336, the stock is likely to face resistance before resuming any upward movement. Traders should also note the Awesome Oscillator and Bull Bear Power signaling bearish pressure in the near term.

Support levels are around 1,250, while upside potential exists near 1,350, which could be crucial for short-term trading. However, caution is warranted given the weakening momentum, and traders should wait for confirmation of trend direction.