Greenpanel Industries Limited (GREENPANEL) Stock - Complete Technical Analysis - Dec 20, 2024

Greenpanel Industries Stock Analysis Support, Resistance & Technical Indicators GREENPANEL Updat

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. Greenpanel Industries Limited (GREENPANEL) is currently priced at 380.30, showing a 15.47% decline from its 52-week high of 449.9, and a 41.93% gain from its 52-week low of 267.95. The stock has been experiencing some volatility, with the Average True Range (ATR) around 80.66, signaling fluctuating price movement. On December 19, the stock showed indecision with a Spinning Top candle, indicating a potential pause in its recent bullish trend. The stock opened at 382, hit a high of 384.15, and closed at 380.30, signaling a potential short-term reversal or consolidation.

The short-term trend remains somewhat positive as the stock trades above its 50-day and 200-day EMAs, indicating ongoing bullish momentum. The 10-day EMA of 382.53 aligns with the current price, suggesting that in the near term, the stock may find resistance here. The RSI is neutral at 54.11, indicating the stock is neither overbought nor oversold, which suggests a balanced market. The MACD at 7.66 points to positive momentum but lacks strength to push the price past significant resistance levels. The Awesome Oscillator and CCI show a mild upward trend, but the Stochastic RSI and Williams Percent Range indicate the stock may be nearing overbought conditions, which could trigger a short-term pullback.

Support levels are established at the recent low of 376.10, which coincides with the 20-day EMA at 374.68, suggesting this is a critical area to watch. A drop below this support could bring the stock to lower levels around 316.75. On the resistance side, the stock faces immediate resistance at 386.7, with further resistance at the 426-450 range. Should the stock break above these levels, it could signal a stronger uptrend. However, if it fails to hold above 376.10, the stock could face a potential downside correction.

In conclusion, Greenpanel's technical setup suggests a neutral to slightly bullish short-term outlook. Traders should watch the 376.10 level for support and the 386.7 resistance for potential breakout opportunities.