Trident Limited (TRIDENT) Stock - Complete Technical Analysis - Sep 18, 2024

Trident Limited Technical Analysis Support & Resistance Levels TRIDENT Stock 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.

Technical Analysis of Trident Limited (TRIDENT)

Trident Limited is currently trading at 36.2. The stock has shown a notable decline of 31.64% from its 52-week high of 52.9, reached on January 9, 2024, and is up by 11.60% from its 52-week low of 32.4, which occurred on October 26, 2023.

Support and Resistance Levels:

Immediate Support: Around 35.67 (Classic Pivot S1), with further support at 34.36 (Classic Pivot S2) and 31.01 (Classic Pivot S3).

Immediate Resistance: Near 37.71 (Classic Pivot P), with further resistance at 39.02 (Classic Pivot R1) and 41.06 (Classic Pivot R2).

Technical Indicators:

MACD: The MACD is currently below the signal line, indicating bearish momentum.

RSI: The RSI is in the lower range, suggesting the stock may be approaching an oversold condition.

Stochastic Oscillator: Both %K and Stochastic RSI are in the lower zones, reinforcing the oversold scenario.

Average Directional Index (ADX): The ADX is low, reflecting a weak trend strength and potential for a range-bound market.

Moving Averages: The stock price is trading below the Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs) across various periods, indicating a bearish trend. The price is also below the Ichimoku Base Line and Hull Moving Average.

Other Indicators: The Commodity Channel Index (CCI) and Awesome Oscillator suggest bearish momentum, while the Williams Percent Range indicates a strong oversold condition.

Chart Patterns: The stock appears to be in a bearish phase with the price trading consistently below key moving averages and pivot points. The low ADX and various bearish indicators suggest a potential consolidation or sideways movement before any significant rebound.

Given the current technical setup, traders might watch for potential support around the immediate levels and look for signs of stabilization or reversal before considering any bullish positions.