Websol Energy System Limited (WEBELSOLAR) Stock - Complete Technical Analysis - Aug 30, 2024

Websol Energy System Ltd: Bullish 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 for Websol Energy System Limited (WEBELSOLAR):

Websol Energy System Limited is currently trading at 135.85, down approximately 77.37% from its 52-week high of 600.3, and up around 116.49% from its 52-week low of 62.75.

Support and Resistance Levels:

Classic Pivot Point: 591.52

Resistance Levels: R1 at 659.03, R2 at 695.52, R3 at 799.52

Support Levels: S1 at 555.03, S2 at 487.52, S3 at 383.52

Camarilla Pivot Point: 591.52

Resistance Levels: R1 at 632.08, R2 at 641.62, R3 at 651.15

Support Levels: S1 at 613.02, S2 at 603.48, S3 at 593.95

Fibonacci Pivot Point: 591.52

Resistance Levels: R1 at 631.24, R2 at 655.79, R3 at 695.52

Support Levels: S1 at 551.79, S2 at 527.24, S3 at 487.52

Woodie Pivot Point: 603.00

Resistance Levels: R1 at 682.00, R2 at 707.00, R3 at 786.00

Support Levels: S1 at 578.00, S2 at 499.00, S3 at 474.00

Technical Indicators:

Average Directional Index (ADX): High, indicating a strong trend.

Relative Strength Index (RSI): Approaching overbought conditions, suggesting potential for a reversal or consolidation.

Stochastic %K: High, showing the stock might be overbought.

Stochastic RSI: Low, indicating potential for a bullish reversal.

MACD: Bullish, suggesting strong upward momentum.

Momentum: Positive, confirming the strength of the current trend.

Commodity Channel Index (CCI): High, signaling overbought conditions.

Awesome Oscillator: Positive, reinforcing bullish momentum.

Williams Percent Range: Negative, indicating the stock is in the overbought zone.

Bull Bear Power: Positive, suggesting buying pressure.

Ultimate Oscillator: Neutral to bullish, indicating strength in the trend.

Moving Averages:

Short-term MA: Above recent price, suggesting resistance.

Long-term MA: Below current price, indicating strong upward trend.

Ichimoku Base Line: Below current price, indicating potential support.

Volume Weighted Moving Average (VWMA): Above current price, indicating potential resistance.

Hull Moving Average (HMA): Above the current price, reinforcing resistance levels.

Average True Range (ATR): Shows increased volatility, indicating potential for significant price swings.

In summary, Websol Energy System Limited shows strong bullish momentum but is nearing overbought levels according to several indicators. Traders should be cautious of resistance levels and look for signs of consolidation or reversal. Support levels offer potential buying opportunities if the stock pulls back.