Data Patterns (India) Limited (DATAPATTNS) Stock - Complete Technical Analysis - Sep 19, 2024

Data Patterns Stock Forecast: Support & Resistance Insights September 2024 Analysis

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. Data Patterns (India) Limited (DATAPATTNS) is currently trading at 2,528, which is 30.86% below its 52-week high of 3,655 and 45.64% above its 52-week low of 1,735.

The technical indicators reveal a bearish outlook for the stock. The RSI and Stochastic %K are in oversold territory, suggesting that the stock might be under downward pressure. The MACD is below the signal line, indicating a weakening trend. The Commodity Channel Index and Awesome Oscillator also reflect negative momentum, while the Bull Bear Power is significantly negative, reinforcing the bearish sentiment. The ADX, though higher, signals a strong trend but does not specify its direction clearly.

Support levels are around 2,616 and 2,429, while resistance levels are observed at 2,922 and 3,110. The stock is trading below most of its moving averages, which indicates a possible struggle to push through resistance levels. Traders should monitor for any signs of a reversal or consolidation before making new positions.