GBIME consolidating in a symmetrical triangle

52 Weeks High :                    Rs. 765

52 Weeks Low :                     Rs. 494

180 Days Average Price:       Rs. 574

90 Days Average Price:          Rs. 543

60 Days Average Price:          Rs. 503

30 Days Average Price:          Rs. 498

Last Week

Open:                                      Rs. 504

High:                                       Rs. 508

Low:                                        Rs. 495

Close :                                     Rs. 500

Volume:                                  42,213

Support (Rs.):  485, 470, 430, 400

Resistance (Rs.):  520, 545, 630, 700

Recommendation

Global IME Bank share price is trading above its both longer and shorter moving average price. Closing price of GBIME is 500. Longer term  180 days moving price is 574 and shorter term 30 days moving average price is 498.This indicates that GBIME share prices will make a move  in a short span to time  as it  recently cross over its  30 day moving average price.

Price is consolidating in a symmetrical triangle ABC XYZ. Break out above ABC and below XYZ will indicate the further move. In addition, break out of resistance 545 will target 700 and breaching of support 470 will target 400. Looking at other indicators price should breach the triangle from above. 

Bhakta Pun

Dwarika Suryabanshi

K. M. Singh

Krishna Prasad Khanal

Punya Ram Kasichhwa

Technical Analyst

 (Trainee - Sharesansar Technical Analysis Class)

Opinions expressed  are those of the individual authors and do not necessarily represent the opinion of sharesansar.com This commentary is a guideline to interpreting the specified indicators.  This information should only be used by investors who are aware of the risk inherent in securities trading.  IMS Investment Management Services Pvt. Ltd accepts no liability whatsoever for any loss arising from any use of this contents.