CREDITACCESS GRAMEEN LIMITED (CREDITACC) Stock - Complete Technical Analysis - Sep 18, 2024

CreditAccess Grameen (CREDITACC) Stock Analysis: Key Support & Resistance Levels and Patterns

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.

CreditAccess Grameen Limited (CREDITACC) is currently trading at 1,240, showing a significant drop from its 52-week high of 1,796. The stock is in a transitional phase with the RSI indicating neutral conditions, while the Stochastic indicators are suggesting strong bullish momentum. However, the MACD shows a slight bearish divergence, and the Momentum indicator indicates moderate upward pressure.

The key support levels for CREDITACC are around 1,200 and 1,150, with resistance levels identified near 1,270 and 1,300. The stock has recently formed an inside candle pattern, which reflects a period of consolidation within a defined range. This pattern often precedes a breakout or breakdown, so it's crucial to watch for movements beyond the current range.

The Average Directional Index (ADX) suggests a strengthening trend, though the stock is currently trading below its key moving averages. The Ichimoku Base Line and various moving averages point to support near the current price, indicating potential for a rebound if the stock holds above these levels.

Overall, traders should keep an eye on potential breakouts or breakdowns from the consolidation range, and monitor the indicators for further signals of direction.