Why GRSE Stock is Falling from Last 2 Days | Next Probable Momentum in GRSE |

The GRSE stock is falling from the last 2 sessions, we will discuss about next probable momentum at this counter.

2 days ago, the stock was well prepared to break out above the 3500 area and was all set to move up. It has also rallied from 3300 to 3500. Then on 24 June, at market open, the stock fell at market open and the hole it has continued to fall. Today, on 25 June also we have also seen a correction at this counter and now it has given a closing around the 3000 area.

Now the stock has formed a double top pattern on the daily chart, along it is approaching its previous support zone around 2900. The stock fell due to Iran-Israel war ceasefire news, somehow it’s a possible reason, along with there was a big rally in the defense sector in the last 2months, so profit booking is also a considered reason.

What do we expect from the GRSE Stock Next?

From our viewpoint, GRSE at weekly RSI is around 67, Daily around 51, and 30-minute charts RSI around 25. We hope that the stock may fall more, and it may go below 2900 if it sustains. A buy on dip is only possible when the hourly RSI trades below 25 for the ultra short-term. Next, we can see the stock if it falls to the 2500 to 2550 price range, then that can be a better support zone for the next move.

On the upper side, if the stock clears all the odds and moves to 3500, then there is a double top resistance present. If the stock sustains above 3500, then a fresh breakout is possible.

Also, watch our video analysis about GRSE Stock on the X Platform Now

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