GCIL | Swing Trade Setup!!!GCIL's current price action indicates a favorable technical setup.
Key observations include:
Uptrend indication: The stock price is trading above the 200-day EMA, suggesting an overall uptrend.
Fibonacci retracement: A fake breakout was observed on April 3rd, which coincided with a 61.8% retracement level from the low of 8.82 (October 4th, 2024) to the high of 23.50 (March 3rd, 2025). The stock has since appreciated by 9.10%.
MACD crossover: The MACD indicator is exhibiting a bullish crossover from its bottom, signaling a potential reversal and strengthening of the uptrend.
Trading Strategy
Based on the technical analysis, a long position can be considered at the support level of 16.16. To manage risk, a strict stop-loss is recommended at 14.40. Potential targets for the trade are:
Target 1: 17.89, representing a 10.71% upside
Target 2: 20, representing a 23.76% upside
