Cupid Limited (CUPID) Stock - Complete Technical Analysis - Dec 20, 2024

Cupid Limited (CUPID) Stock Analysis: Key Support & Resistance Levels You Need to Watch

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. Cupid Limited (CUPID) stock is currently priced at 79.3, which is a significant 43.35% below its 52-week high of 140, but it is still 82.32% above the 52-week low of 43.5. The stock has been facing strong volatility recently, and the technical indicators suggest that there is more room for potential movement in either direction. The Exponential and Simple Moving Averages, including the 10-day and 200-day averages, point to a downtrend as the stock remains below these averages, which are currently at 80.95 and 93.7 respectively. This indicates weakness in the stocks price action, failing to maintain higher levels.

The MACD indicator is showing negative momentum, and the RSI is in the oversold zone, reflecting possible buying interest if a reversal occurs. The Stochastic Oscillator is also indicating oversold conditions, which increases the probability of an upward reversal. However, the ADX reading of 11.16 confirms the lack of strong directional trend. The Doji and Spinning Top candlestick patterns seen recently signify market indecision, which may lead to a price consolidation or reversal in the near term.

With the stock hovering near the support level of 77.7, a breakdown below this could lead to further declines, potentially targeting 75.49. On the other hand, a rise above 81.05 could confirm a breakout with higher targets in sight, making this an interesting level for traders. The stocks Average True Range (ATR) suggests high volatility, which could lead to sudden price movements. Investors should be cautious and monitor the 77.7 support and 81.05 resistance levels for breakout or breakdown opportunities.