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CACO Stock Tickeron detected bearish Stock Pattern: Triple Tops CACO on June 13, 2024, netting in a 49.56% gain over 3 weeks

A.I.dvisor
at Tickeron.com
06/29/24
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+49.56% Gain from a Successful pattern Triple Tops
CACO - Caravelle International Group
Ticker: CACO
Company: Caravelle International Group
Gain from shortening: +49.56%
Confirmed: 06/13/24
Succeeded: 06/28/24
Total length: 21 days
On June 07, 2024, A.I.dvisor detected a Triple Tops Pattern (Bearish) for Caravelle International Group (CACO, $1.13). 6 days later, on June 13, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On June 28, 2024, the stock hit the target price of $0.60 – resulting in a +4 gain for traders who shorted the stock on the pattern detection date.

Momentum Indicator for CACO turns negative, indicating new downward trend

CACO saw its Momentum Indicator move below the 0 level on August 13, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator turned negative. In of the 33 cases, the stock moved further down in the following days. The odds of a decline are at .

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General Information

Industry MarineShipping

Profile
Fundamentals
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Industry
N/A
Address
60 Paya Lebar Road
Phone
+65 83048372
Employees
34
Web
http://www.caravelleglobal.com