IKIO Lighting Limited (IKIO) Stock - Complete Technical Analysis - Aug 30, 2024

IKIO Lighting Stock Analysis Key Support

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. Let's dive into the technical analysis for IKIO Lighting Limited (IKIO). Currently, the stock is trading at 287, which is approximately 27.15% below its 52-week high of 394.1 and 16.97% above its 52-week low of 245.45.

Starting with support and resistance levels, the key support levels are at 293.08 (Classic Pivot S1), 263.07 (Classic Pivot S2), and 208.12 (Classic Pivot S3). If the stock breaks below these levels, it might find additional support around 318.06 (Camarilla S1) and 297.03 (Fibonacci S1). On the resistance side, the stock could face hurdles at 348.03 (Classic Pivot R1), 372.97 (Classic Pivot R2), and 427.92 (Classic Pivot R3). Other significant resistance levels are 328.14 (Camarilla R1) and 339.01 (Fibonacci R1).

Technical indicators present a mixed picture. The Average Directional Index (ADX) is relatively low at 16.36, suggesting that the current trend strength is weak. The Relative Strength Index (RSI) is at 40.19, indicating that the stock is in the oversold region and may be poised for a potential rebound. The Stochastic %K is at 28.86, supporting the idea that the stock is oversold.

The MACD is showing a negative value of -4.16, which could imply bearish momentum in the short term. The Awesome Oscillator and Williams Percent Range are also negative, reinforcing this bearish sentiment. However, the Commodity Channel Index (CCI) and the Bull Bear Power are also in negative territory, reflecting weaker price momentum.

Moving averages provide a clearer picture of the stock's trend. The stock is trading below the Exponential Moving Averages (EMAs) across various periods, with the 10-day EMA at 290.94, and the 50-day EMA at 297.5. It is also below the Simple Moving Averages (SMAs) and the Ichimoku Base Line, which stands at 312.23. This suggests that the stock is in a downward trend relative to these moving averages.

Volatility analysis through the Average True Range (ATR) shows that the stock has experienced decreasing volatility, which may indicate a period of consolidation.

In summary, IKIO Lighting Limited is currently facing resistance from multiple levels and exhibits bearish technical indicators. Support levels could provide potential entry points if the stock reverses its downward trend.