Mangalam Cement Limited (MANGLMCEM) Stock - Complete Technical Analysis - Sep 13, 2024

Mangalam Cement Stock Analysis: Key Support & Resistance Levels Technical Insights for Traders

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. Mangalam Cement Limited (MANGLMCEM) is currently trading at 938, which is 14.18% below its 52-week high. The stock has demonstrated significant strength, rising over 167% from its 52-week low. The ADX indicates a weak trend, suggesting a potential consolidation phase. The RSI shows that the stock is not overbought nor oversold, signaling a balanced momentum. However, the Stochastic indicators point to the stock being oversold, which might present a buying opportunity if a reversal occurs. The MACD is positive, but momentum indicators suggest a potential slowdown as we see negative readings, including a weak Awesome Oscillator and bearish Commodity Channel Index (CCI). The price is hovering near its short-term EMAs, reflecting indecision in the market. Traders should closely watch support around the 900 level, while resistance can be seen near 980. If the price breaks below support, it may fall towards lower levels, but a bullish reversal from current levels could push the stock toward testing its recent highs.