HLV LIMITED (HLVLTD) Stock - Complete Technical Analysis - Aug 30, 2024

HLV 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. Technical Analysis for HLV Limited (HLVLTD)

HLV Limited is currently trading at 21.0, showing significant movement from its 52-week high of 42.0 and its 52-week low of 15.5. The stock's current position reflects a drop of nearly 50% from its peak, while it's up by about 35.55% from its low.

Support and Resistance Levels:

Support Levels: Based on various pivot points and moving averages, strong support can be expected around the 20.43 to 21.01 range. This is validated by both Classic and Camarilla pivots.

Resistance Levels: Key resistance points are likely around the 22.85 and 24.37 levels, as indicated by the Fibonacci and Classic pivots.

Technical Indicators:

MACD: The MACD line is currently below the signal line, indicating a bearish trend.

RSI: The RSI is at 44.19, which is in the neutral zone but closer to oversold conditions.

ADX: The ADX shows a value of 25.49, suggesting a moderate trend strength but not strong enough to confirm a clear trend direction.

Stochastic Indicators: Both the Stochastic %K and Stochastic RSI are relatively high, suggesting potential overbought conditions.

Moving Averages: The stock's current price is below most of its key moving averages, including the 10-day and 20-day EMA, signaling potential downward pressure.

Chart Patterns:

The stock is showing signs of consolidation with potential for a breakout or breakdown depending on its ability to surpass resistance or hold support.

Additional Observations:

ATR: The Average True Range indicates moderate volatility, providing a broader range for potential price movements.

Volume: Trading volumes are crucial to watch; a significant increase could validate breakout or breakdown scenarios.

Overall, HLV Limited appears to be in a consolidation phase with key support and resistance levels to watch closely. Traders should monitor these levels along with the technical indicators to make informed trading decisions.