Omaxe Limited (OMAXE) Stock - Complete Technical Analysis - Sep 02, 2024

Omaxe Limited (OMAXE) 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. In today's technical analysis of Omaxe Limited, currently trading at 127, we observe some key insights from various indicators and chart patterns. The Average Directional Index (ADX) is at 20.56, indicating a moderate trend strength. The Relative Strength Index (RSI) stands at 49.03, suggesting that the stock is neither overbought nor oversold. The Stochastic %K and Stochastic RSI are at 55.85 and 51.73, respectively, showing that momentum is somewhat bullish but not extreme.

The MACD is at -0.45, reflecting a bearish trend as the MACD line is below the signal line. The Awesome Oscillator, at -3.14, further confirms the current bearish momentum. The Williams Percent Range is at -39.69, indicating a potential for upward movement if the market sentiment shifts. The Bull Bear Power is at -3.85, reinforcing the bearish bias.

Moving averages provide mixed signals. The Exponential Moving Averages (EMAs) across different periods, such as 10-day (127.15) and 200-day (103.12), are above the current price, suggesting resistance levels around these averages. The Simple Moving Averages (SMAs) also indicate resistance, with the 10-day SMA at 128.05 and the 50-day SMA at 128.64.

Support levels are highlighted by the Classic Pivot S1 at 109.9 and the Fibonacci Pivot S1 at 115.4. Resistance levels are marked by the Classic Pivot R1 at 143.38 and the Fibonacci Pivot R1 at 140.98. The Camarilla and Woodie Pivots also offer insight, with Camarilla R1 at 128.16 and Woodie R1 at 141.83.

The stock's volatility, as indicated by the Average True Range (ATR), is relatively high, suggesting potential price swings. The current trading price of 123.7 is about 23.85% below the 52-week high of 162.45 and 190.04% above the 52-week low of 42.65.

Overall, the technical indicators suggest a bearish trend with significant resistance levels to watch. Traders should consider these factors when planning their strategies.