Tide Water Oil Company (India) Limited (TIDEWATER) Stock - Complete Technical Analysis - Sep 12, 2024

Tide Water Oil Stock Analysis: Key Support & Resistance Levels TIDEWATER Technical Review

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. Tide Water Oil Company (India) Limited (TIDEWATER) is currently trading at 2,428, approximately 13.27% below its 52-week high of 2,800, and 119.12% above its 52-week low of 1,108. The technical indicators suggest a bearish trend in the short term but with potential for rebound.

Support and Resistance Levels:

Support: The immediate support level is around 2,360, which aligns with the Classic Pivot S1 and Fibonacci Pivot S1. Further support can be seen at 2,112 (Classic Pivot S2) and 1,644 (Classic Pivot S3).

Resistance: The resistance levels are at 2,828 (Classic Pivot R1) and 3,048 (Classic Pivot R2). Significant resistance may also be encountered around 3,516 (Classic Pivot R3).

Technical Indicators:

MACD: The MACD is negative, suggesting bearish momentum.

RSI: The RSI is currently near the neutral zone, indicating a potential for either consolidation or a downward trend if it dips further.

ADX: The ADX is moderate, reflecting a weakening trend strength.

Stochastic Indicators: Both Stochastic %K and Stochastic RSI are in the oversold zone, signaling a possible rebound if buying pressure increases.

Moving Averages: The stock is below the Short-term (10, 20, 30) and Medium-term (50) SMAs, indicating bearish short to medium-term momentum. However, the stock is trading above the Long-term (100, 200) SMAs, suggesting long-term strength.

Chart Patterns:

The current price is trading below the Ichimoku Base Line, indicating a bearish trend. However, the Hull Moving Average suggests potential support around 2,423.

Volume and Volatility:

The ATR indicates high volatility, which could lead to significant price swings. Traders should be cautious of sudden movements.

In summary, TIDEWATER's technical setup suggests a cautious approach with potential support levels to watch for a possible rebound. Traders should monitor these levels closely and be prepared for possible volatility.