IKIO Lighting Limited (IKIO) Stock - Complete Technical Analysis - Sep 13, 2024

IKIO Lighting Limited Stock Analysis: Bearish Signs & Key Levels 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.

Let's delve into the technical analysis of IKIO Lighting Limited (IKIO). The current price of the stock is 306, which is 18.51% below its 52-week high of 375 and 24.51% above its 52-week low of 245.45.

Support and Resistance Levels:

Support Levels: The stock has key support around the 269.23 level, with additional support at 251.37 and 203.37.

Resistance Levels: On the upside, key resistance is seen at 317.23, with further resistance at 347.37 and 395.37.

Technical Indicators:

MACD: The MACD line is currently below the signal line, indicating a bearish trend.

RSI: The RSI is at 62.47, suggesting the stock is nearing overbought conditions.

Stochastic: The Stochastic %K is at 70.61, hinting at potential overbought conditions, with the Stochastic RSI Fast at 98.65 indicating an overextended move.

ADX: The ADX stands at 17.68, reflecting a weak trend strength.

CCI: The Commodity Channel Index is high at 250.84, which indicates that the stock might be overbought.

Awesome Oscillator: The Awesome Oscillator is negative at -2.58, pointing to a potential bearish shift.

Williams %R: At -19.54, this indicator also shows the stock is in overbought territory.

Moving Averages:

Exponential Moving Averages (EMA): The stock price is currently below the 50 EMA at 295.44 and the 200 EMA at 313.62, suggesting a potential bearish phase.

Simple Moving Averages (SMA): The price is also trading below the 50 SMA at 300.11 and the 200 SMA at 304.49, further confirming the bearish sentiment.

Pivot Points:

Classic Pivot Point: The stock is trading below the classic pivot of 299.37, signaling potential bearish pressure.

Chart Patterns:

The price action suggests a consolidation phase with potential resistance at higher levels and support around the lower pivot points.

Overall, IKIO is exhibiting signs of bearish pressure with several indicators suggesting overbought conditions and a weaker trend. Traders should monitor these levels closely for potential breakout or breakdown opportunities.