TVS Motor Company Limited (TVSMOTOR) Stock - Complete Technical Analysis - Sep 16, 2024

"TVS Motor Technical Analysis: Bullish Trends & Key Levels for September 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.

TVS Motor Company Limited (TVSMOTOR) is currently trading at 2841.75, just 0.64% below its 52-week high of 2860.0, achieved on September 2, 2024. The stock is showing impressive performance, trading 95.80% above its 52-week low of 1451.35 from September 14, 2023.

Technical Analysis Overview:

Support and Resistance Levels:

Immediate Support: The stock finds support around 2740.52, based on Camarilla pivot points, and 2661.0 from the Woodie pivot.

Immediate Resistance: Key resistance levels are near 2949.2, as per Classic pivot points, and 3058.0 from the Woodie pivot.

Moving Averages:

The stock is trading above its short-term moving averages, indicating a bullish trend. The price is notably higher than the 10-day, 20-day, and 50-day Exponential Moving Averages (EMA) and Simple Moving Averages (SMA). This suggests strong upward momentum.

The 200-day EMA and SMA, at 2234.88 and 2232.9 respectively, are significantly below the current trading price, reinforcing the long-term uptrend.

Chart Patterns:

Recent candlestick patterns include a Doji and Spinning Top, which suggest market indecision. These patterns often precede a potential price reversal or consolidation.

Technical Indicators:

MACD: The MACD level is high, reflecting strong bullish momentum.

RSI: At 70.8, RSI indicates the stock is in the overbought territory, suggesting a potential pullback.

ADX: The ADX value of 37.91 signals a strong trend in place.

Stochastic Indicators: Both Stochastic %K and Stochastic RSI are in overbought zones, implying possible near-term corrections.

CCI and Awesome Oscillator: Positive readings suggest strong buying pressure.

Williams %R and Bull Bear Power: These indicators also point towards the stock being in overbought conditions but are still bullish.

ATR (Average True Range): The ATR of 61.85 suggests moderate volatility, which could lead to significant price swings.

In summary, TVS Motor is demonstrating a strong bullish trend with current support levels holding firm. However, the stock is in overbought territory according to several indicators, which may lead to potential corrections or consolidation. Traders should keep an eye on resistance levels and watch for any signs of trend reversal from the technical indicators.