Tarsons Products Limited (TARSONS) Stock - Complete Technical Analysis - Aug 30, 2024

Tarsons Products Stock Analysis: Bearish Trends, Key Support

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.

Technical Analysis of Tarsons Products Limited (TARSONS)

Tarsons Products Limited is currently trading at 452. Analyzing the technical indicators reveals several key insights:

Support and Resistance Levels:

Support Levels: The stock shows support around the classic pivot S1 at 469.7 and Camarilla S2 at 500.83. These levels are crucial for identifying potential buying opportunities if the stock price dips.

Resistance Levels: Key resistance levels are found at the classic pivot R1 at 553.25 and the Fibonacci R1 at 538.72. Monitoring these levels can help identify potential selling points if the stock price rises.

Technical Indicators:

Moving Averages: The current price is below most of the significant moving averages, including the EMA 10 (456.88) and EMA 50 (474.78), indicating a bearish trend. The SMA 10 (456.8) also suggests that the price is struggling to stay above the short-term average.

Average True Range (ATR): The ATR shows an increasing volatility trend, with recent values indicating higher price swings. This suggests that traders should be prepared for significant price movements.

Relative Strength Index (RSI): The RSI is at 41.81, reflecting a neutral to bearish momentum. This suggests that the stock is neither overbought nor oversold.

MACD: The MACD is currently negative, indicating a bearish momentum. The negative value suggests that sellers are in control.

Stochastic Indicators: The Stochastic %K is at 38.49, indicating a potential oversold condition. The Stochastic RSI Fast at 64.25 suggests that the stock might be in an uptrend.

Average Directional Index (ADX): The ADX is at 20.9, indicating a weak trend. This suggests that the current trend lacks strength.

Ichimoku Base Line: The current price is below the Ichimoku Base Line (481.95), reinforcing the bearish sentiment.

Chart Patterns:

Doji and Spinning Top: Recent candlestick patterns, including a Doji and Spinning Top, indicate indecision in the market. These patterns suggest that there may be a potential reversal or consolidation phase ahead.

Overall, the stock is trading at -21.26% from its 52-week high and 16.24% above its 52-week low. Given the current technical indicators and chart patterns, the stock shows a bearish trend with some potential for volatility. Traders should watch key support and resistance levels closely and be prepared for possible price swings.