Thermax Limited (THERMAX) Stock - Complete Technical Analysis - Dec 26, 2024

Thermax Limited (THERMAX) Stock Analysis Is it Time to Buy or Sell Technical & Fundamental Revie

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. Thermax Limited (THERMAX) has been showing volatility, with its current price of 4,442 being 24.28% below its 52-week high of 5,839.95 from July 2024 and 48.54% above its 52-week low of 2,977 from January 2024. The stock's technical indicators suggest weak bearish momentum, with a negative MACD, RSI at 35.88, and Stochastic %K at 16.83, which indicate the potential for a price reversal from oversold conditions. The stock is trading below its short-term EMAs, such as the 10 and 20-day, which supports the bearish sentiment. The longer-term EMAs are providing some support at lower levels, with the 200-day EMA acting as a key level for potential stability.

The ADX is low at 12.1, signaling weak trend strength, while the Awesome Oscillator at -134.35 confirms the bearish momentum. The ATR has been elevated, suggesting that volatility is high, and price swings can be expected. Looking at pivot levels, support is seen at 4,149, while resistance is around 4,750. If the stock manages to break through the resistance at 4,750, it may see a short-term reversal, but if it breaks below 4,149, further downside risk remains. Traders should monitor the support level closely for any signs of a reversal, while watching for a sustained break above 4,750 for an upward move.