Ugro Capital Limited (UGROCAP) Stock - Complete Technical Analysis - Aug 30, 2024

Ugro Capital Stock Analysis 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.

Let's dive into the technical analysis for Ugro Capital Limited (UGROCAP). Currently, the stock is trading at 235.35, which is -25.92% from its 52-week high of 317.7 and 10.49% above its 52-week low of 213.0.

Support and Resistance Levels:

Support Levels: The key support levels are identified at the Classic Pivot S1 of 245.07, Fibonacci Pivot S1 of 253.43, and Camarilla S2 of 258.43.

Resistance Levels: The significant resistance levels include the Classic Pivot R1 at 295.07, Fibonacci Pivot R1 at 291.63, and Woodie Pivot R1 at 293.0.

Technical Indicators:

MACD: The MACD is showing a negative trend, indicating bearish momentum.

RSI: The Relative Strength Index (RSI) is in the oversold zone, suggesting potential for a reversal.

ADX: The Average Directional Index (ADX) is above 25, indicating a strong trend. However, it's important to watch the direction of the trend.

Stochastic: Both the Stochastic %K and Stochastic RSI are in the oversold territory, suggesting potential upward movement.

Moving Averages: The stock is currently below all key moving averages, including the EMA and SMA across various periods, indicating a bearish trend.

Ichimoku Base Line: The Ichimoku Base Line is above the current price, confirming the bearish sentiment.

Volume Weighted Moving Average (VWMA): The price is below the VWMA, suggesting a bearish trend.

Chart Patterns:

Pivot Points: All pivot points are above the current price, which supports the resistance levels and confirms the bearish outlook.

In summary, Ugro Capital is facing a bearish trend with the current price trading below key moving averages and pivot points. However, the oversold conditions in indicators like RSI and Stochastic suggest that a potential reversal might be on the horizon. Traders should watch for any signs of upward momentum or confirmation of a trend reversal before making any investment decisions.