Centum Electronics Limited (CENTUM) Stock - Complete Technical Analysis - Sep 13, 2024

Centum Electronics Stock Analysis: Key Levels, Trends & Patterns to Watch NSE Stock 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.

Centum Electronics Limited (CENTUM) is currently trading at 1,756, which is 16.52% below its 52-week high of 2,099 and 37.64% above its 52-week low of 1,273. The stock has recently formed an inside candle pattern, indicating a potential period of consolidation or a breakout. The current price sits within the range of the recent inside candle pattern with a high of 1,781.95 and a low of 1,705.25.

Technical Indicators:

MACD: The MACD level is positive, suggesting a bullish trend. Look for potential buy signals if the MACD continues to rise.

RSI: The RSI is in the neutral zone, indicating no overbought or oversold conditions. A rising RSI might suggest increasing momentum.

ADX: The ADX is above 20, which indicates a strong trend. A rising ADX might confirm the current bullish trend.

Stochastic %K: The stochastic %K is near the midpoint, suggesting potential for both upward and downward movement.

CCI: The Commodity Channel Index is in the positive zone, indicating potential buying interest.

AO: The Awesome Oscillator is positive, supporting the ongoing bullish trend.

WPR: The Williams Percent Range is neutral, showing neither extreme overbought nor oversold conditions.

Ultimate Oscillator: The Ultimate Oscillator is below its neutral level, which might suggest caution or a potential reversal if it does not improve.

Moving Averages:

Short-term: The stock is currently trading above its short-term Exponential Moving Averages (10, 20) but below its longer-term Simple Moving Averages (50, 100, 200). This suggests a mixed trend with short-term strength and long-term resistance.

Support and Resistance: Key support levels are around 1,705 (recent low) and 1,679.81 (SMA 20). Key resistance levels are near 1,810.25 (Classic Pivot R1) and 1,798.54 (SMA 10).

Chart Patterns:

The inside candle pattern observed indicates a period of consolidation. Traders should watch for a breakout above 1,782 or a drop below 1,705 for potential trading signals.

Conclusion:

Centum Electronics is showing mixed signals with a bullish trend indicated by MACD and AO, while the RSI and ADX suggest a strengthening trend. The stock is currently in a consolidation phase as indicated by the inside candle pattern. Traders should monitor key support and resistance levels for potential trading opportunities and consider the trend indicators for future price action.