Metro Brands Limited (METROBRAND) Stock - Complete Technical Analysis - Sep 18, 2024

Metro Brands Stock Analysis: Bearish Trends & Key Levels to Watch NSE Technical Review

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. Lets take a look at Metro Brands Limited, currently trading at 1,232. The stock is 14.51% below its 52-week high of 1,441.2 and 24.44% above its 52-week low of 990.05.

On the technical front, Metro Brands displays bearish tendencies in the near term. The RSI is in the lower range, suggesting a possible oversold condition. The Stochastic %K is also in a similar lower zone, pointing to a potential continuation of bearish momentum. The MACD is negative, indicating a weakening of the bullish trend. The Awesome Oscillator and Bull Bear Power are also in the negative territory, reinforcing the current bearish sentiment.

The Average Directional Index (ADX) is moderate, showing a less defined trend, while the Momentum indicator is notably negative, reflecting a strong downward price movement. The Commodity Channel Index (CCI) is deeply negative, which supports the notion of a bearish phase. The Ultimate Oscillator remains neutral, suggesting potential consolidation or a balance between buying and selling pressure.

The stock is trading below its short-term moving averages and significantly below its longer-term averages, signaling a prevailing downtrend. The Ichimoku Base Line and Hull Moving Average also indicate bearish conditions, with the price trading below these key averages.

Support levels to watch are around 1,200 and 1,170, while resistance is likely to be encountered at approximately 1,280 and 1,320. The current chart pattern reflects a bearish trend with possible consolidation phases.

In summary, Metro Brands Limited is currently experiencing bearish pressure with key support and resistance levels that traders should monitor closely. While the stock is showing signs of oversold conditions, the overall trend remains downwards.