COSMO FIRST LIMITED (COSMOFIRST) Stock - Complete Technical Analysis - Sep 13, 2024

Cosmo First Limited Stock Analysis: Bearish Trends & Key Support Levels Technical Review 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. Cosmo First Limited (COSMOFIRST) is currently trading at 795, showing a notable distance from its 52-week high of 998, which suggests a bearish trend or consolidation. The stock is, however, significantly above its 52-week low of 451, indicating relative strength.

In terms of support and resistance, the classic pivot point is at 848.93, which could act as a significant resistance level if the stock rises. Conversely, the nearest support levels are around 699.37 and 618.38, which could be crucial if the price declines.

Technical indicators provide a mixed view. The Average Directional Index (ADX) is relatively low, indicating a weak trend. The RSI is near neutral, suggesting no extreme conditions of overbought or oversold. The MACD is bearish, signaling potential downward pressure. The Stochastic indicators are also bearish, reinforcing the current downward momentum. The Awesome Oscillator confirms this bearish trend.

The recent Bearish Engulfing pattern indicates a potential reversal, with today's candle showing a significant drop from the previous day's close. This pattern suggests caution and the potential for further downside.

Moving averages show that the current price is below several key averages, including the EMA and SMA, indicating potential resistance ahead. The Average True Range (ATR) points to volatility, which could lead to sharp price movements.

Overall, COSMOFIRST is experiencing bearish momentum with key levels to watch for potential support or resistance. Traders should be cautious due to the bearish indicators and volatility, closely monitoring these levels to make informed decisions.