Cantabil Retail India Limited (CANTABIL) Stock - Complete Technical Analysis - Sep 13, 2024

Cantabil Retail (CANTABIL) Stock Analysis: Key Support, Resistance & Reversal Signals 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. Welcome to our analysis of Cantabil Retail India Limited (CANTABIL). The current price stands at 237, trading around 23.68% below its 52-week high of 309.5, and 30.83% above its 52-week low of 180.55.

Starting with trend indicators, the Average Directional Index (ADX) is showing a strong trend, indicating a clear market direction. The Relative Strength Index (RSI) is in the oversold zone, suggesting potential for a reversal. The Stochastic Oscillator and Stochastic RSI both indicate that the stock is in an oversold condition, which might signal a buying opportunity.

The MACD is negative, reflecting bearish momentum, while the Commodity Channel Index (CCI) and Awesome Oscillator also suggest weakening momentum. The Williams Percent Range and Bull Bear Power are showing strong bearish signals. However, the Ultimate Oscillator indicates some underlying bullish potential.

For moving averages, the stock is trading below most of its key moving averages, including the 10-day, 20-day, and 50-day EMAs, which all are above the current price. The 200-day EMA is providing a crucial support level.

Pivot points reveal that the stock is below the Classic Pivot Point, indicating bearish sentiment. The presence of a Doji pattern and Spinning Top on the chart suggests indecision among traders. Additionally, the Bullish Harami pattern observed indicates a potential for reversal.

The Average True Range (ATR) shows moderate volatility, reflecting that the stock could experience significant price swings.

In summary, while the stock is trading below its moving averages and key pivot points, technical indicators like the RSI and Stochastic Oscillator suggest a potential reversal could be on the horizon. Traders should watch for confirmation of a trend reversal before making major decisions.