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

HEG Limited Stock Analysis Key Levels and Trading 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. HEG Limited is currently trading at 2,267, which is 17.36% below its 52-week high of 2,743 and 55.06% above its 52-week low of 1,461. The stock shows a P/E ratio of 64.1, indicating a higher valuation relative to its earnings, while ROCE and ROE stand at 7.30% and 5.61%, respectively, suggesting moderate efficiency in generating returns.

From a technical perspective, the RSI is near 68, indicating that the stock is approaching overbought territory. The MACD shows a positive momentum, further supported by strong readings in the Awesome Oscillator and Bull Bear Power. The Stochastic indicators are also in the upper range, signaling potential continuation of the bullish trend.

Recent candlestick patterns include a Doji and a Bullish Harami, indicating indecision in the market but with a potential bias toward upward momentum. An inside candle pattern has been observed, defining a trading range between 2,377.45 and 2,105. Traders should keep an eye on support around 2,200 and resistance near 2,350. A breakout above resistance could lead to further gains, while a fall below support may indicate a shift in sentiment.