Satin Creditcare Network Limited (SATIN) Stock - Complete Technical Analysis - Sep 12, 2024

SATIN Creditcare Stock Analysis Key Support & Resistance Levels Inside Candle Pattern

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. Satin Creditcare Network Limited (SATIN) is currently trading at 209, reflecting a slight dip from its 52-week high of 283.55, marking a decline of approximately 26%. However, it's trading 14% above its 52-week low of 183.05, showing some recovery. The stock has shown an Inside Candle Pattern, indicating potential consolidation.

From a technical perspective, RSI is in a neutral zone, signaling that the stock is neither overbought nor oversold, but momentum remains weak with Momentum and Awesome Oscillator both showing downward pressure. Stochastic %K and Williams %R are indicating the stock is oversold, which could mean a reversal might be near if buying pressure emerges. The MACD remains negative, hinting at a bearish trend continuing in the short term, and ADX shows weak trend strength.

Looking at the moving averages, the stock is currently trading below key levels like the 200-day EMA and SMA, which are important indicators of long-term bearish sentiment. However, short-term Hull Moving Average is slightly lower than the current price, suggesting the possibility of a short-term bounce. Volatility as indicated by ATR is decreasing, which might result in limited price movement in the near future.

In terms of support and resistance, the stock has support around 202 based on recent price action, and resistance is around 215. If SATIN manages to break through this resistance level, it could move towards higher resistance levels around 225-230. If it breaks below support, it may retest the 190 range.

Given the current chart patterns and indicators, traders should watch for a breakout above 215 or a breakdown below 202 for directional moves. With weak trend strength and mixed signals across oscillators, the stock may remain range-bound unless there is a clear catalyst.