Expleo Solutions Limited (EXPLEOSOL) Stock - Complete Technical Analysis - Aug 30, 2024

Expleo Solutions Stock Analysis: Support, Resistance

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 dive into the technical analysis for Expleo Solutions Limited (EXPLEOSOL) stock. The current price is at 1,384, which is approximately 9.17% below its 52-week high of 1,523.65 and 20.77% above its 52-week low of 1,145.9.

Support and Resistance Levels:

Support Levels: The key support levels are derived from various pivot calculations. The Classic Pivot S1 is at 1,252.83, while the Fibonacci Pivot S1 is at 1,259.47. Additional support is observed at Camarilla S1, which is at 1,303.86. These levels can act as crucial points where the stock might find buying interest or stabilize.

Resistance Levels: Key resistance levels include the Classic Pivot R1 at 1,362.38 and the Fibonacci Pivot R1 at 1,343.16. Further resistance can be seen at the Woodie Pivot R1 of 1,368.68. If the stock advances past these levels, it could face further resistance at the Camarilla R3 of 1,344.03 and the Woodie R2 at 1,414.01.

Technical Indicators:

MACD: The MACD shows a strong bullish signal, indicating upward momentum.

RSI: The Relative Strength Index is at 62.94, suggesting that the stock is in the upper end of the normal range, potentially indicating overbought conditions.

ADX: The Average Directional Index stands at 26.77, highlighting a strong trend presence.

Stochastic Indicators: Both the Stochastic %K and Stochastic RSI Fast values are high, implying the stock might be in overbought territory.

Moving Averages: The stock is trading above its short-term moving averages, such as the 10-day EMA and SMA, indicating a positive short-term trend. However, it remains near its 50-day EMA and SMA, which could provide additional support or resistance.

Chart Patterns and Observations:

Pivot Points: The stock's current price is above the Classic and Fibonacci pivot points, suggesting a bullish trend in the short term.

Average True Range (ATR): The ATR values show a period of high volatility, with recent readings fluctuating, which means traders should expect significant price swings.

In summary, EXPLEOSOL is currently trading in a strong uptrend but approaching overbought levels. Traders should monitor the key support and resistance levels closely and watch for any signs of reversal or continuation patterns based on the current indicators.