TVS Motor Company Limited (TVSMOTOR) Stock - Complete Technical Analysis - Dec 23, 2024

TVS Motor Stock Analysis: Bearish Signs with Potential Reversal at Key Levels Technical 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. TVS Motor Company Limited (TVSMOTOR) is showing signs of a bearish short-term trend as it trades at 2,391.65, which is 19.15% below its 52-week high and 27.69% above its 52-week low. Recently, the stock formed a bearish engulfing pattern, signaling potential further downside. Despite this, technical indicators such as the RSI, at 37.71, suggest that the stock could be approaching oversold conditions, which may indicate a buying opportunity in the future. The MACD is negative, reinforcing the downward trend, while the Awesome Oscillator at 1.62 points to some lingering bullish pressure.

The stock's moving averages show a continued downward bias, with the price trading below both short-term and long-term averages. The 200-day EMA around 2,394 is acting as immediate resistance. The ADX reading of 21.65 signals that the trend is weak, with no clear direction yet. If the stock manages to break above the 200-day EMA, it could face resistance at the 50-day EMA around 2,520. On the downside, support levels are around 2,352, and further support can be seen at 2,270, providing traders with potential entry points if the price consolidates at lower levels.

For those watching for a reversal, a break above 2,394 could signal a shift in momentum. However, with the RSI and MACD in bearish zones, the stock may still see some pressure before it starts to recover. Patience and watching for confirmation near key support levels may be prudent for those looking to enter long positions.