The Great Eastern Shipping Company Limited (GESHIP) Stock - Complete Technical Analysis - Dec 16, 2024

The Great Eastern Shipping Stock Analysis GESHIP Technical Outlook & Key Levels Dec 2024

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 trading at 1,072.85, which is significantly below its 52-week high of 1,543.7, reflecting a correction from its previous peak. Despite this, it is still 25.80% above its 52-week low, indicating some stability. Recent price action shows that GESHIP has found support near 1,060, and its ability to hold this level will be key for potential upward movement. The Relative Strength Index (RSI) is in the oversold territory, which could signal an impending reversal, but it will depend on a break above the 1,070-1,080 range.

On the downside, support lies at 1,060 and 1,045, while the resistance is seen around 1,090-1,100. The stocks key resistance levels are around the 200-day EMA at 1,145.09, and the 50-day EMA at 1,161.90. The stock has shown a strong downtrend, as indicated by the moving averages. The Average Directional Index (ADX) is at 22.65, which suggests weak trend strength, signaling a consolidation phase for now.

Looking at volatility, the Average True Range (ATR) indicates that the stock is prone to significant price swings. The stock is currently in a consolidation phase, so a clear breakout or breakdown will likely provide better direction. Traders should keep an eye on the 1,060-1,080 range for signs of strength or weakness. A breakout above 1,090 could signal a potential recovery, while a drop below 1,060 may trigger further downside movement.