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

"ACC Stock Analysis: Key Support, Resistance Levels & Market Sentiment Explained Technical Review

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. ACC Limited (ACC) is currently trading at 2,080, far from its 52-week high of 2,844, which occurred earlier in July 2024, signaling potential weakness in its price action. The stock has shown recent fluctuations within a range between 2,050 and 2,200, with a closing price of 2,100.90 on December 23, 2024. Technical indicators suggest a somewhat bearish outlook. The Average Directional Index (ADX) at 23.64 suggests a moderate trend strength, while the RSI at 35.57 indicates the stock might be oversold, potentially paving the way for a short-term rebound. However, MACD and Awesome Oscillator are showing bearish momentum, with the latter pointing to decreasing buying pressure. Resistance levels lie near 2,150-2,200, while support can be found at 2,050 and below at 2,000 and 1,950.

The Stochastic RSI also supports the idea of an oversold condition, hinting at possible upward price action in the short term if the stock finds buying interest. However, caution is required, as the overall sentiment remains bearish, reflected in the weak readings on the Commodity Channel Index and Williams Percent Range. The stock is experiencing selling pressure, and the Momentum indicators are negative, which suggests that any rallies in the short term might be met with resistance. Investors and traders should monitor price action around key support and resistance levels for potential signals to enter or exit positions. Long-term investors should wait for the stock to stabilize before considering any buys, while short-term traders could look for opportunities within the identified range.