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Polyplex Corporation Limited (POLYPLEX) Stock - Complete Technical Analysis - Sep 12, 2024
Polyplex Corporation Technical Analysis Key Support & Resistance Levels September 2024
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. Polyplex Corporation Limited is currently trading at 1,220. The technical indicators suggest a mixed outlook for the stock. The Average Directional Index (ADX) indicates a weak trend, while the Relative Strength Index (RSI) suggests the stock is relatively neutral. The Stochastic %K and Stochastic RSI are in the lower range, which might point to potential upward momentum if conditions improve.
The MACD is positive, hinting at some bullish momentum. However, the Commodity Channel Index and Williams Percent Range indicate a bearish bias. The Awesome Oscillator supports a bullish view, though the Bull Bear Power suggests weak momentum.
The stock faces resistance around 1,250 to 1,300, with support levels near 1,200 to 1,170. Recent candlestick patterns, including a Doji and a Bullish Harami, suggest market indecision, potentially leading to a breakout if the current range is breached. The stock has been trading within a tight range recently, which could lead to significant movement once this range is broken.
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