Jash Engineering Limited (JASH) Stock - Complete Technical Analysis - Sep 13, 2024

"Jash Engineering (JASH) Stock Analysis: Key Support & Resistance Levels - Technical Insights Sept

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 dive into the technical analysis of Jash Engineering Limited (JASH). Currently, the stock is trading at 2,062, which is approximately 21.89% below its 52-week high of 2,640, and about 64.84% above its 52-week low of 1,251.

Support and Resistance Levels:

Immediate Support: Around 2,018, as indicated by the recent inside candle pattern.

Immediate Resistance: Close to 2,137, where the recent inside candle pattern has its parent high.

Technical Indicators Overview:

Moving Averages: The stock is currently trading below key moving averages, including the Exponential Moving Average (EMA) and Simple Moving Average (SMA) across various timeframes. The 10-day EMA is at 2,066.6, while the 50-day EMA is at 2,182.5, and the 200-day EMA stands at 1,945.86. The SMA indicators show similar levels, with the 10-day SMA at 2,057.44 and the 50-day SMA at 2,220.86, suggesting that the stock is trading below these averages, indicating a potential bearish trend.

MACD: The MACD is currently negative, indicating bearish momentum. The MACD line is below the signal line, reinforcing the bearish sentiment.

RSI: The Relative Strength Index (RSI) is at 40.36, which is below the neutral level of 50, suggesting that the stock is in the lower range of its recent performance and may be oversold.

ADX: The Average Directional Index (ADX) is at 27.78, which indicates a strong trend, though the stock is currently in a downtrend.

Stochastic Indicators: The Stochastic %K is at 19.95, which indicates that the stock is in the oversold territory. The Stochastic RSI is at 45.76, suggesting a potential upward reversal soon.

Commodity Channel Index (CCI): The CCI is at -63.29, indicating that the stock is currently undervalued.

Volume Weighted Moving Average (VWMA): The 20-day VWMA is at 2,087.66, supporting the notion that the stock is trading below this average, suggesting downward pressure.

Chart Patterns: The recent inside candle pattern with a parent high of 2,137.7 and a low of 2,018.9 indicates a period of consolidation. The stock has traded within this range for 2 days, which could signal a potential breakout or breakdown depending on future price action.

Summary: Jash Engineering Limited (JASH) is currently experiencing bearish momentum with its trading price below key moving averages and technical indicators suggesting potential oversold conditions. The immediate support level is around 2,018, while resistance is near 2,137. Investors should watch for potential price movements around these levels, as they may indicate future trading opportunities.