Finolex Cables Limited (FINCABLES) Stock - Complete Technical Analysis - Sep 19, 2024

Finolex Cables Technical Analysis: Key Support & Resistance Levels September 2024 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. Finolex Cables Limited (FINCABLES) is currently trading at 1,399, which is approximately 17.73% below its 52-week high of 1,700 and 68.25% above its 52-week low of 831.

The technical indicators show a mixed picture for FINCABLES. The RSI is in neutral territory, suggesting the stock is neither overbought nor oversold. However, the Stochastic %K is in the oversold zone, which could indicate potential buying opportunities if the stock begins to reverse. The MACD is below its signal line, signaling a bearish trend, while the Commodity Channel Index and Awesome Oscillator both show negative momentum, reinforcing the bearish outlook.

The Average Directional Index indicates a weak trend, suggesting that the stock might be experiencing indecision or a consolidation phase. The Bull Bear Power is negative, which supports the current bearish sentiment.

Support levels for FINCABLES are around 1,370 and 1,340, while resistance is expected near 1,430 and 1,470. The stock's position relative to its moving averages shows it is trading below the short-term averages but above longer-term averages, indicating potential for further declines if bearish pressure continues. The recent patterns, including a Doji and Spinning Top, suggest market indecision, which might result in a period of volatility.