Container Corporation of India Limited (CONCOR) Stock - Complete Technical Analysis - Sep 17, 2024

Container Corp of India (CONCOR) Stock Analysis: Key Support & Resistance Levels Sept 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.

Let's delve into the technical analysis for Container Corporation of India Limited (CONCOR).

Current Price: 945.15

52-Week High: 1180.0 (04 June 2024)

52-Week Low: 672.2 (01 November 2023)

Support and Resistance Levels:

The stock is currently trading at 945.15, which is 19.90% below its 52-week high and 40.61% above its 52-week low. Significant support is identified around the 923.22 level, with additional support at 881.33. Resistance is prominent at the 1025.97 level, with further resistance at 1086.83.

Technical Indicators:

MACD: Currently showing a negative reading, suggesting bearish momentum.

RSI: At 40.1, indicating the stock is approaching oversold conditions.

ADX: At 28.06, showing a strong trend but with a potential for weakening.

Stochastic RSI: High, suggesting that the stock may be overbought in the short term.

Momentum: Negative, which reflects a decline in momentum.

Commodity Channel Index (CCI): Negative, suggesting weaker price momentum.

Awesome Oscillator: Negative, indicating bearish momentum.

Williams Percent Range: Deeply negative, reinforcing the oversold condition.

Moving Averages:

The stock is below its 10-day, 20-day, and 50-day moving averages, indicating a short-term bearish trend.

Long-term moving averages like the 100-day and 200-day are also above the current price, confirming the prevailing downtrend.

Chart Patterns:

An inside candle pattern was observed on 04 June 2024, where the stock traded within the range of 880.7 to 1180.0 for 73 days, suggesting a consolidation phase.

In summary, CONCOR is currently experiencing a bearish trend with various indicators pointing towards oversold conditions and weaker momentum. Key support levels are around 923.22 and resistance is at 1025.97. Traders should monitor these levels closely for potential reversal signals.