TCI Express Limited (TCIEXP) Stock - Complete Technical Analysis - Dec 20, 2024

TCI Express Limited Technical Analysis: Key Support & Resistance Levels to Watch in 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. TCI Express Limited (TCIEXP), with a current price of 836.40, has recently shown considerable fluctuations, trading 41.84% below its 52-week high of 1438.00 and just above its 52-week low of 800.80. The stock is in a weak trend, as indicated by a low ADX reading of 21.41, which suggests that there is no clear direction at the moment. The RSI value of 39.69 signals a near-oversold condition, meaning the stock could be ripe for a potential rebound, but the trend remains weak.

From a moving average perspective, TCIEXP is trading below most key EMAs, including the 10-day and 20-day, signaling bearish momentum. The MACD further supports this view, as its negative value indicates a lack of bullish strength. The presence of candlestick patterns like the Spinning Top and Doji implies market indecision, which could lead to a continuation of volatility. The ATR values show substantial fluctuations, pointing to high volatility, which makes the stock susceptible to sudden price changes. Traders should keep an eye on the support level near 800 and the resistance at 860 for possible breakout or breakdown scenarios. A break below 800 could suggest further downside risk, while a rally past 860 could offer short-term gains.