Saksoft Limited (SAKSOFT) Stock - Complete Technical Analysis - Aug 30, 2024

Saksoft Limited 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.

Currently trading at 292, Saksoft Limited has a diverse technical outlook. Support levels to watch are near 271.37, 246.48, and 195.03, while resistance levels stand around 322.82, 349.38, and 400.83. The stock is presently positioned 27.40% below its 52-week high of 402.2 and 39.08% above its 52-week low of 209.95.

In terms of moving averages, the stock is trading slightly above its 10-day EMA at 291.3 and is also above its 50-day SMA at 289.31. However, it remains below its Hull Moving Average at 296.94 and Woodie Pivot Point of 301.31, indicating potential resistance. The average true range of recent periods suggests moderate volatility, with recent high volatility touching 371.15 and current volatility at 283.75.

Looking at momentum indicators, the MACD is above its signal line, reflecting a bullish trend, while the RSI is neutral, indicating no overbought or oversold conditions. The ADX is low, suggesting a weak trend, which aligns with the Stochastic and Williams Percent Range showing bullish momentum but not extreme.

Pivot points suggest key support and resistance ranges, with Classic and Fibonacci pivots aligning closely at 297.93 for support and 349.38 for resistance. The Ichimoku Base Line and other indicators like the Commodity Channel Index and Awesome Oscillator also support a bullish bias. Overall, the stock is positioned with mixed signals, suggesting careful monitoring for trend confirmations and potential breakout opportunities.