Yasho Industries Limited (YASHO) Stock - Complete Technical Analysis - Aug 30, 2024

"Yasho Industries (YASHO) Technical Analysis: Key Support

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 of Yasho Industries Limited (YASHO). The current price of YASHO is at 1,993.

Support and Resistance Levels:

Support Levels: Classic Pivot S1 is at 1,798.57, Camarilla S1 at 1,877.88, and Fibonacci S1 is at 1,824.44. These levels could act as key points to watch for potential rebounds or buying opportunities.

Resistance Levels: Classic Pivot R1 is at 1,998.42, Camarilla R1 is at 1,914.52, and Fibonacci R1 is at 1,977.13. These levels might provide resistance where the price could face selling pressure.

Technical Indicators:

MACD: The MACD line is above the signal line, indicating a bullish trend.

RSI: The RSI is in the bullish zone but not overbought, suggesting that the stock still has room to move higher.

ADX: The ADX value suggests a moderately strong trend, but it's not extremely strong.

Stochastic Oscillator: The %K is above 50 but not yet in overbought territory, which is a sign of potential upward momentum.

Moving Averages: The current price is above the 10-day and 20-day EMAs but below the 50-day and 100-day EMAs. This suggests a short-term bullish trend, while the medium to long-term outlook may be more neutral.

Ichimoku Base Line: The current price is above the Ichimoku Base Line, indicating that the price is in a bullish phase.

Volume Weighted Moving Average: The current price is above the 20-day VWMA, further supporting the bullish sentiment.

Chart Patterns:

Doji Candle: A Doji pattern indicates indecision in the market, reflecting uncertainty among traders.

Spinning Top: This pattern also signifies market indecision with small body and long wicks.

Additional Observations:

ATR: The ATR indicates relatively high volatility, so traders should be cautious about potential price swings.

52-Week High/Low: The stock is trading 17.88% below its 52-week high and 31.53% above its 52-week low, which reflects a relatively strong position within its recent trading range.

Overall, Yasho Industries shows a mix of bullish and indecisive signals. Short-term traders might find opportunities near support levels, while long-term investors should watch for trends to solidify. Keep an eye on key resistance and support levels for better trading decisions.