Hathway Cable & Datacom Limited (HATHWAY) Stock - Complete Technical Analysis - Dec 20, 2024

Hathway Cable Stock Technical Analysis: Key Support & Resistance Levels HATHWAY Stock Insights

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. Let's dive deeper into the technicals of Hathway Cable & Datacom Limited (HATHWAY). The current stock price is 17.14, sitting comfortably above its 52-week low of 14.82, but well below its 52-week high of 27.95. This indicates a strong pullback, but the stock is still holding above important support zones.

Looking at recent price action, HATHWAY has shown a slight downtrend in the last five days, with some resistance seen around the 17.50 to 17.60 range. The stock had a notable dip on December 18th, opening at 17.56 but closing lower at 17.37, signaling possible resistance in the mid-17 range. December 19th saw the stock trading in a narrow range between 16.91 and 17.32, reinforcing the idea that 17.00 to 17.50 is a critical zone for the stock.

When we look at key indicators, the ADX is showing a strong trend, but the RSI is still below 40, indicating that the stock is in an oversold zone and may see some upward momentum or consolidation. The Stochastic %K confirms this, suggesting the stock could be primed for a short-term reversal. On the negative side, the MACD remains below zero, which means the momentum is still weak, and we may not see a major rally just yet.

The moving averages tell a similar story. The 200-period EMA stands as a major resistance point at 20.14, while the support level appears to be around 17.08, as indicated by the Ichimoku Base Line. If the price fails to hold above 17.00, the next support is seen around 16.50. Conversely, breaking above 18.00 would signify a potential shift towards upward momentum.

In conclusion, HATHWAY is currently in a sideways pattern with a focus on consolidation. Traders should watch for potential reversals at the 17.00 to 17.50 range, with a key breakout zone above 18.00. Use the RSI and MACD for confirmation of trend changes. Short-term traders may look for a bounce from the oversold conditions, while long-term traders might prefer to wait for a stronger trend reversal before committing capital.