Goldiam International Limited (GOLDIAM) Stock - Complete Technical Analysis - Sep 13, 2024

Goldiam International (GOLDIAM) Stock Analysis: Bullish Trends, Key Levels & Technical 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.

Goldiam International Limited (GOLDIAM) is currently trading at 385.85, which is approximately 6.35% below its 52-week high of 362.8 and 220.87% above its 52-week low of 120.25.

Technical Analysis:

Support and Resistance Levels:

Support Levels: The immediate support level for GOLDIAM is at 315.14, which aligns with the 20-day Simple Moving Average (SMA). Additional support is seen at around 292.25, which is close to the 30-day Exponential Moving Average (EMA) and the Fibonacci Pivot S1 level.

Resistance Levels: Key resistance is observed around 391.96, which corresponds to the Classic Pivot R1. Another resistance zone is near 419.0, based on the Woodie Pivot R1. The stock is currently trading close to these resistance levels, indicating a critical area for potential breakout or reversal.

Chart Patterns:

The stock has formed a Three White Soldiers pattern, which is a bullish continuation signal. This pattern indicates strong buying interest and a potential for continued upward movement.

Technical Indicators:

MACD: The MACD is showing a bullish trend, suggesting that momentum is on the side of the buyers.

RSI: The RSI is high, indicating that the stock might be overbought. Traders should be cautious of potential pullbacks.

ADX: A very high ADX level signifies a strong trend. This supports the bullish trend indicated by the Three White Soldiers pattern.

Stochastic Oscillators: The Stochastic %K is near overbought levels, which might suggest a potential for a short-term correction.

Commodity Channel Index (CCI): The CCI is elevated, reinforcing the strong upward momentum in the stock.

Awesome Oscillator: The Awesome Oscillator is positive, reflecting a bullish momentum.

Williams Percent Range: This is at extreme levels, indicating that the stock might be overextended.

Moving Averages:

Short-Term Averages: The stock is trading above its short-term moving averages (10-day, 20-day), suggesting that the short-term trend is bullish.

Long-Term Averages: The stock is also above longer-term moving averages (50-day, 100-day, 200-day), indicating a strong long-term uptrend.

Volatility:

The Average True Range (ATR) indicates high volatility. Traders should be prepared for significant price swings.

Overall, GOLDIAM shows strong bullish signals but is approaching key resistance levels. Traders should monitor these resistance points and be mindful of overbought conditions as indicated by the RSI and Stochastic Oscillators.