Coffee Day Enterprises Limited (COFFEEDAY) Stock - Complete Technical Analysis - Sep 13, 2024

COFFEEDAY Stock Analysis: Key Support & Resistance Levels Bearish Trend Insights

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.

Coffee Day Enterprises Limited (COFFEEDAY) is currently trading at 37.7, significantly below its 52-week high of 74.65, and only slightly above its 52-week low of 33.3. The stock is facing strong bearish momentum, indicated by a low RSI around 35, which signals that it may be in oversold conditions. The ADX is notably high, suggesting a strong trend but in a downward direction. The MACD is also negative, reinforcing the bearish outlook with the MACD line below the signal line.

Key support for COFFEEDAY is around 34, with additional support seen at 33.3, which is the 52-week low. Resistance levels are observed around 41 and 44. The stock is trading below its short and long-term moving averages, reflecting a bearish trend. The Momentum indicator is negative, and the Commodity Channel Index (CCI) indicates that the stock is in a strong downtrend.

Overall, COFFEEDAY shows signs of continued bearish pressure, with no immediate signs of a trend reversal. Traders should be cautious and look for confirmation of either a rebound from support levels or further breakdowns before making trading decisions.