Hercules Hoists Limited (HERCULES) Stock - Complete Technical Analysis - Sep 13, 2024

Hercules Hoists Stock Analysis: Key Levels, Indicators, & Trading Strategy NSE 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. Hercules Hoists Limited (HERCULES) stock is currently trading around 593, showing a strong resistance level near 656, which is the 52-week high from July 15, 2024. The stock is 9.63% below this high, suggesting that it faces a substantial barrier at this level. Support for the stock appears robust around the 541 level, which is close to the classic and Fibonacci pivot support levels.

In terms of technical indicators, the Relative Strength Index (RSI) is at a neutral 50.9, indicating that the stock is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is in negative territory, suggesting bearish momentum, while the Awesome Oscillator also confirms a weak bullish momentum. The Average Directional Index (ADX) is relatively low at 13.49, reflecting a weak trend strength.

The Exponential Moving Averages (EMAs) are showing a mixed picture: the short-term EMAs (10, 20, 30) are below the current price, indicating recent bullish momentum, while the longer-term EMAs (50, 100, 200) are below the current price, suggesting a longer-term uptrend. The Simple Moving Averages (SMAs) follow a similar trend with short-term SMAs above the current price, but the long-term SMAs are below.

The Stochastic %K is at 28.91, signaling that the stock is approaching an oversold condition. Meanwhile, the Commodity Channel Index (CCI) and Williams Percent Range suggest a weak bearish sentiment. The Hull Moving Average and Volume Weighted Moving Average are also below the current price, which further supports the potential for continued bullish movement if the stock can overcome resistance.

Overall, the stock appears to be in a consolidation phase with significant resistance at the 52-week high and support levels that traders should monitor closely. The current market conditions suggest a cautious bullish outlook, with potential upward movement if resistance levels are broken and bearish momentum indicators improve.