Mazagon Dock Shipbuilders Limited (MAZDOCK) Stock - Complete Technical Analysis - Sep 17, 2024

Mazagon Dock Stock Analysis: Key Support, Resistance & Technical Indicators Market Update

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. Mazagon Dock Shipbuilders Limited (MAZDOCK) is trading at 4,193, which is significantly below its 52-week high. Technical indicators suggest the stock is in a bearish phase with several signs of weakness. The RSI and Stochastic Oscillator both indicate that the stock is currently oversold, while the MACD shows a negative momentum. The Commodity Channel Index and the Awesome Oscillator further confirm the downward trend, with both displaying negative readings.

Support for MAZDOCK is likely to be found around the 4,000 to 4,100 range, which is close to the Camarilla and Fibonacci pivot support levels. Resistance is anticipated near the 4,500 level, with additional resistance close to the 4,600 mark. The stock is trading below its major moving averages, which reinforces the bearish sentiment. The Average True Range indicates increased volatility, suggesting that price swings may be more pronounced in the near term. Traders should be cautious of potential further declines if the stock fails to hold at current support levels.