GTL Infrastructure Limited (GTLINFRA) Stock - Complete Technical Analysis - Aug 30, 2024

GTL Infrastructure Stock Analysis: Key Support, Resistance

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 of GTL Infrastructure Limited (GTLINFRA) stock. Currently trading at 2.67, the stock is facing some significant challenges and opportunities based on various technical indicators and chart patterns.

Support and Resistance Levels:

Support: The stock has a key support level at 2.14, with additional support around 1.39 and 2.73. These levels are crucial to watch as breaking below them could signal further declines.

Resistance: Immediate resistance is seen at 3.24, which aligns with the Classic Pivot point. Additional resistance levels are at 3.99, 5.09, and 6.94. A breach above these levels could indicate a potential uptrend.

Technical Indicators:

MACD: The MACD is currently negative, suggesting bearish momentum.

RSI: The Relative Strength Index is at 43.26, indicating a neutral to slightly bearish sentiment.

ADX: The ADX is low, reflecting a weak trend strength.

Stochastic %K: At 21.84, it indicates that the stock is in the oversold territory, suggesting a potential reversal.

Stochastic RSI: The Stochastic RSI is also low at 12.71, supporting the possibility of an upward correction.

CCI: The Commodity Channel Index is deeply negative, which could suggest the stock is in an oversold condition.

Williams %R: At -86.21, it reflects that the stock might be oversold.

Ultimate Oscillator: With a reading of 31.21, it indicates bearish momentum.

Awesome Oscillator: The Awesome Oscillator is negative, reinforcing the bearish sentiment.

Moving Averages:

The stock is currently below most of its key moving averages, including the 10, 20, 30, 50, 100, and 200-day EMAs, and the 10, 20, 30, 50, 100, and 200-day SMAs. This suggests a bearish trend.

The Ichimoku Base Line is at 2.95, acting as a dynamic resistance level.

Pivot Points:

Classic Pivot Point: 3.24

Camarilla Pivot Point: 3.24

Fibonacci Pivot Point: 3.24

Woodie Pivot Point: 3.17

The stock is trading 38.34% below its 52-week high of 4.33 and 281.43% above its 52-week low of 0.7, showing considerable volatility.

In summary, GTL Infrastructure Limited is in a bearish phase with potential support levels providing some safety nets. Traders should monitor these support and resistance levels closely, as well as keep an eye on the technical indicators for any signs of reversal or further decline.