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MMTC Limited (MMTC) Stock - Complete Technical Analysis - Sep 20, 2024

MMTC Limited: Key Support & Resistance Levels for Traders

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.

MMTC Limited is currently trading at 91.33, significantly below its 52-week high and showing an impressive rise from its recent lows. With a high P/E ratio, this stock reflects a market perception of growth, although the fundamentals suggest a cautious approach.

From a technical standpoint, the RSI indicates the stock is in the oversold territory, which may prompt a reversal. The Stochastic confirms this oversold condition, and the MACD suggests bearish momentum. However, the appearance of a Bullish Harami pattern could signal a potential turnaround if buyers step in.

Support is identified near 90, while resistance is established at around 93.3. The recent inside candle pattern indicates indecision, making these levels critical for traders to watch. A breakthrough above resistance could signal an upward trend, while failure to hold support may trigger further declines.







 

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