CESC Limited (CESC) Stock - Complete Technical Analysis - Sep 19, 2024

CESC Limited Technical Analysis: Bearish Signs & Key Levels September 2024 Market 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. CESC Limited's stock, currently trading at 189.21, is positioned 9.90% below its 52-week high of 210 and 129.90% above its 52-week low of 82.3.

The technical indicators suggest a cautious outlook. The RSI is neutral, indicating that the stock is neither overbought nor oversold. The MACD shows some positive movement, though it is not strongly bullish. The ADX is relatively low, suggesting a weak trend strength, while the Commodity Channel Index and Stochastic indicators point towards potential bearish pressure. The recent Bearish Engulfing pattern highlights potential short-term weakness, with the stock experiencing some selling pressure as indicated by today's price action.

Support levels are anticipated around 182.15 and 170.53, while resistance is seen near 193.33 and 199.56. The moving averages are mixed, with short-term averages above the current price, suggesting potential resistance, and longer-term averages below, reflecting overall upward momentum. The stocks current positioning relative to these averages implies it might face resistance around recent highs but could find support near previous lows.

In summary, while CESC Limited's stock shows long-term strength, traders should be cautious of potential short-term pullbacks and monitor key support and resistance levels closely.