IRM Energy Limited (IRMENERGY) Stock - Complete Technical Analysis - Aug 30, 2024

IRM Energy Limited Technical 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.

Technical Analysis for IRM Energy Limited (IRMENERGY)

Current Price: 423

Support and Resistance Levels:

Support Levels:

Classic Pivot S1: 439.7

Classic Pivot S2: 417.4

Classic Pivot S3: 376.45

Resistance Levels:

Classic Pivot R1: 480.65

Classic Pivot R2: 499.3

Classic Pivot R3: 540.25

Technical Indicators:

MACD: Currently showing a bearish trend with the MACD line below the signal line.

RSI: At 43.26, indicating the stock is in a neutral to slightly oversold condition.

ADX: At 24.46, suggesting a moderate trend strength.

Stochastic %K: At 26.28, pointing towards an oversold condition.

Stochastic RSI Fast: At 70.31, which indicates overbought conditions in the shorter term.

Commodity Channel Index: At -40.31, signaling a possible oversold condition.

Awesome Oscillator: At -23.78, suggesting a bearish momentum.

Williams Percent Range: At -57.83, indicating a range-bound or oversold scenario.

Bull Bear Power: At -2.25, reflecting bearish sentiment.

Ultimate Oscillator: At 34.22, suggesting potential weakness in upward momentum.

Moving Averages:

Exponential Moving Averages:

10 EMA: 419.75

20 EMA: 427.22

30 EMA: 434.18

50 EMA: 446.26

100 EMA: 465.83

200 EMA: 489.76

Simple Moving Averages:

10 SMA: 416.21

20 SMA: 428.68

30 SMA: 437.19

50 SMA: 447.08

100 SMA: 480.81

200 SMA: 495.71

Ichimoku Base Line: At 435.35, providing a minor resistance level.

Pivot Points:

Classic Pivot Point: 458.35

Camarilla Pivot Point: 458.35

Fibonacci Pivot Point: 458.35

Woodie Pivot Point: 460.66

Additional Observations:

The stock is currently trading approximately 33.95% below its 52-week high of 641, suggesting a significant decline from its peak.

It is trading about 4.80% above its 52-week low of 404, indicating a recent rebound.

Overall, IRM Energy Limited is exhibiting a mix of bearish and neutral signals. The stock's current price is near several key support levels, while resistance levels above may act as potential barriers to upward movement. The technical indicators suggest caution due to mixed signals with some indicators showing oversold conditions and others pointing towards bearish momentum. Traders should watch the key support and resistance levels closely and consider the broader market context when making trading decisions.