Satin Creditcare Network Limited (SATIN) Stock - Complete Technical Analysis - Dec 23, 2024

Satin Creditcare Network (SATIN) Stock Technical Analysis Key Support and Resistance Levels

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. Satin Creditcare Network Limited (SATIN) has shown significant price action recently, with the stock currently trading at 149.42, considerably down from its 52-week high of 283.55. It is now positioned just above the 52-week low of 146.27, which could provide support in the near term. Over the past few days, the stock has shown increased volatility, with a sharp drop observed on Dec 20, where the price opened at 155.4, surged to a high of 156.49, before plummeting to close at 149.42. This movement suggests heightened selling pressure and a bearish outlook in the short term.

Key technical indicators such as the MACD and RSI suggest continued weakness. The MACD is in negative territory, reinforcing the bearish trend, while the RSI is below 40, indicating oversold conditions. The Stochastic RSI is extremely low, signaling intense downward momentum. The ADX, a trend strength indicator, stands at 17.94, suggesting that the current trend lacks strength, which could result in a price consolidation or reversal. The stock is trading below its key moving averages, including the 10-day, 20-day, and 50-day EMAs, further confirming the downward pressure.

A recent price pattern, known as "Three Black Crows," reinforces the bearish outlook, signaling a continuation of the downtrend. The stock closed at 149.42 on Dec 20, which aligns with the lower support levels and may act as a potential short-term floor. If the price drops below 146.27, the next key support could be at 136.2. However, should the stock recover and break through the 155-160 range, it could indicate a potential reversal or bounce. Traders should watch for confirmation before entering long positions, with caution around these levels.