JBM Auto Limited (JBMA) Stock - Complete Technical Analysis - Sep 18, 2024

JBM Auto Limited Stock Analysis: Bullish Indicators & Key Support/Resistance Levels NSE Insights

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 closer look at JBM Auto Limited, which is currently trading at 1970. The stock is approximately 18.89% below its 52-week high of 2428.35, reached in February, and 76.90% above its 52-week low of 1113.35 from October last year.

Technical indicators show a mixed picture. The RSI is in the neutral zone, suggesting a balanced market condition without strong overbought or oversold signals. However, the MACD is positive, which indicates bullish momentum. The Stochastic %K and Stochastic RSI are also in the bullish range, supporting the positive outlook.

The ADX value indicates a strengthening trend, which aligns with the current upward momentum. The stock is trading slightly above its short-term moving averages, like the 10 and 20-day EMAs, suggesting bullish support. However, the Hull Moving Average is above the current price, indicating potential resistance around this level.

Support for JBM Auto is likely near the 1950 to 1900 range, while resistance could be encountered around the 2000 to 2050 levels. Keeping an eye on these key levels will be crucial for making informed trading decisions and managing potential risks.

In summary, JBM Auto displays a generally bullish trend with some resistance ahead. Traders should monitor these support and resistance levels to better navigate the stocks price movements.