Yuken India Limited (YUKEN) Stock - Complete Technical Analysis - Sep 13, 2024

Yuken India Limited Stock Analysis: Bearish Trends, Support Levels & Key Indicators Partha Kuchan

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 delve into the technical analysis of Yuken India Limited (YUKEN), which is currently trading at 1,244.

Starting with trend indicators, the Average Directional Index (ADX) is relatively low at 12.67, indicating a weak trend strength. The Relative Strength Index (RSI) is at 46.12, suggesting that the stock is in a neutral zone, neither overbought nor oversold. The Stochastic %K is at 22.04, and the Stochastic RSI is at 17.05, both showing that the stock is potentially oversold. This could imply a possible reversal or consolidation period ahead.

The MACD level is negative at -12.79, which signifies bearish momentum. The Momentum indicator is also negative at -32.8, reinforcing the bearish outlook. The Commodity Channel Index (CCI) and Williams Percent Range (WPR) are both in negative territory, indicating that the stock is currently weak compared to its historical performance.

Moving averages are showing mixed signals. The Exponential Moving Averages (EMAs) for 10, 20, 30, and 50 days are above the current price of 1,244, suggesting a bearish short to medium-term trend. However, the 200-day EMA is below the current price, which may support the stock during longer-term corrections. The Simple Moving Averages (SMAs) confirm this bearish trend as the stock is trading below several key SMAs, particularly the 50-day and 100-day SMAs.

The Ichimoku Base Line is at 1,281.9, which is above the current price, indicating resistance ahead. The Hull Moving Average is at 1,237.88, very close to the current price, adding to the near-term support level.

Regarding volatility, the Average True Range (ATR) values indicate that the stock has been experiencing moderate volatility, with recent ATR values trending between 25 and 43.

In terms of chart patterns, an Inverted Hammer pattern was observed, which typically signals a bullish reversal, although its reliability is considered less strong in this context.

Overall, YUKEN India Limited's stock shows bearish signals with a potential for short-term support around current levels. Traders should watch for any signs of a reversal given the oversold indicators, but caution is warranted due to the prevailing bearish trend.