TV Today Network Limited (TVTODAY) Stock - Complete Technical Analysis - Sep 13, 2024

TV Today Network Stock Analysis: Key Support & Resistance Levels Technical Overview

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.

The stock of TV Today Network Limited is currently trading around 251, showing notable dynamics in its technical indicators and chart patterns.

Support and Resistance Levels:

Support Levels: The immediate support is at approximately 251, aligning with Classic Pivot S1 and Fibonacci Pivot S1. Below this, the stock may find further support around 230, as indicated by multiple pivot calculations.

Resistance Levels: Resistance is primarily seen at the Classic Pivot R1 level of 300, with further resistance at 328 based on Classic Pivot R2.

Technical Indicators:

MACD: Currently, the MACD line is below the signal line, indicating a bearish trend.

RSI: The RSI is in the oversold zone, suggesting that the stock may be undervalued and could experience a rebound.

ADX: The ADX is above 30, showing a strong trend; however, the trend is downwards.

Stochastic Oscillator: Both the Stochastic %K and Stochastic RSI are in the extreme oversold region, suggesting potential for a reversal.

Moving Averages: The stock is trading below its 10-day, 20-day, and 50-day moving averages, which are all above the current price. This indicates a bearish short-term outlook, but longer-term averages like the 100-day and 200-day are below the current price, showing support at these levels.

Ichimoku Base Line: This is also above the current price, suggesting resistance and a bearish outlook.

Volume Weighted Moving Average: The stock is trading below the Volume Weighted Moving Average, further confirming a bearish trend.

ATR (Average True Range): The ATR shows volatility, indicating that significant price fluctuations are expected.

Chart Patterns:

Pivot Points: The stock's current price is significantly below the Classic Pivot, suggesting a bearish trend. Camarilla and Fibonacci pivot points align closely with current price support and resistance levels.

In summary, TV Today Network Limited is experiencing a bearish trend with the stock trading below various moving averages and pivot points. The technical indicators suggest potential for a rebound due to oversold conditions, but significant resistance levels and bearish trends are present. Traders should watch for a break above resistance levels for potential upward movement.