V2 Retail Limited (V2RETAIL) Stock - Complete Technical Analysis - Sep 13, 2024

"V2 Retail Stock Analysis: Key Support & Resistance Levels Technical Insights September 2024"

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. Let's dive into the technical analysis for V2 Retail Limited (V2RETAIL) stock. Currently trading at 1,104, V2 Retail is positioned 9.37% below its 52-week high of 1,247 and 736.18% above its 52-week low of 135.15.

Support and Resistance Levels: The stock has key support around the Classic Pivot S1 at 919.83 and the Fibonacci Pivot S1 at 933.9. On the resistance side, the Classic Pivot R1 stands at 1,311.23, while the Fibonacci Pivot R1 is at 1,232.93.

Moving Averages: The price is above the Exponential Moving Average (EMA) for 10 days at 1,084.94, indicating a short-term uptrend. It's also above the 20-day EMA of 1,069.07 and well above longer-term EMAs, which suggests a bullish trend. However, the price is near the Simple Moving Average (SMA) for 20 days at 1,103.31, which can act as a resistance point.

Technical Indicators:

MACD: Currently, the MACD level is positive, suggesting a strong bullish momentum.

RSI: At 58.13, RSI is in a neutral to slightly bullish zone.

ADX: With a value of 39.33, the ADX indicates a strong trend, which is bullish.

Stochastic Oscillator: The %K is at 18.01, indicating that the stock might be in the oversold territory.

Awesome Oscillator: Positive at 37.96, reinforcing the bullish trend.

Bollinger Bands: The current price is moving close to the upper band, suggesting potential overbought conditions.

Chart Patterns and Observations:

The stock has been trading well above its long-term moving averages, showing a solid bullish trend. The recent pullback to 1,104 could be a buying opportunity if it holds above the immediate support levels.

Conclusion: Overall, V2 Retail Limited is showing a bullish trend with significant upside potential, but traders should watch for potential resistance around 1,103.31 and support around 919.83. Keeping an eye on the MACD and RSI for further bullish confirmation can be beneficial for trade decisions.