Fertilizers and Chemicals Travancore Limited (FACT) Stock - Complete Technical Analysis - Sep 17, 2024

FACT Stock Technical Analysis: Key Support & Resistance Levels for 2024 Partha Kuchana

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.

Fertilizers and Chemicals Travancore Limited (FACT) Technical Analysis

As of the current trading price of 977.15, FACT is showing a mix of technical signals. The stock is trading approximately 17.68% below its 52-week high of 1187.0, reached on June 21, 2024, and 93.11% above its 52-week low of 506.0, recorded on October 9, 2023.

Support and Resistance Levels:

Immediate Support: 910.42

Immediate Resistance: 1057.97

Technical Indicators:

MACD: The MACD line is above the signal line, indicating a bullish trend. However, the gap is narrowing, which could suggest a potential consolidation.

RSI: The RSI is at 48.56, indicating that the stock is neither overbought nor oversold but is leaning towards the lower end of the neutral zone.

ADX: The ADX is at 26.36, which shows a strengthening trend, but not very strong yet. This suggests that while the trend is present, it's not yet at its strongest.

Stochastic %K: At 45.52, the Stochastic %K is in a neutral position, suggesting the stock could move either way.

Stochastic RSI: The Stochastic RSI is at 34.27, indicating that the stock might be in a weaker position, potentially signaling a buying opportunity if it crosses higher.

Awesome Oscillator: Positive at 11.67, indicating some bullish momentum.

Williams Percent Range: At -65.59, this shows that the stock is relatively close to its recent low, which could be a signal for potential upward movement if buying interest picks up.

Moving Averages:

Short-Term Averages: The stock price is below the 10-day and 20-day SMAs, which are at 988.33 and 985.35 respectively, suggesting potential resistance around these levels.

Long-Term Averages: The 50-day SMA is at 1001.63 and the 200-day SMA is at 823.61, showing that the stock is trading above its long-term averages, indicating a longer-term uptrend.

Chart Patterns and Observations:

An inside candle pattern was observed on September 11, 2024, with a range between 969.0 and 1028.2. The stock has traded within this range for 5 days, indicating consolidation and potential for a breakout.

Overall, FACT's current price level indicates a potential for a rebound if it can hold above the support level of 910.42 and move past the resistance at 1057.97. Watch for signals from the RSI and Stochastic indicators to gauge the strength of any upcoming moves.