Everest Industries Limited (EVERESTIND) Stock - Complete Technical Analysis - Sep 02, 2024

Everest Industries Stock 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. Everest Industries Limited (EVERESTIND) is currently trading at 1,146. The stock shows some mixed technical signals. The Relative Strength Index (RSI) is hovering around the mid-50s, indicating a neutral market sentiment. The MACD is near the zero line, suggesting a potential shift or indecision in trend. The Average Directional Index (ADX) is relatively low, reflecting a lack of strong trend direction.

The stock is trading slightly above its short-term moving averages, like the 10-day and 20-day Exponential Moving Averages (EMA), but below its longer-term averages, such as the 50-day and 100-day EMAs, indicating some recent strength but potential resistance at higher levels. Key resistance levels are around the Classic Pivot R1 and R2, which are approximately 1,259 and 1,387 respectively. Support levels are currently near the Classic Pivot S1 and S2, roughly 1,010 and 888 respectively.

The price is significantly below its 52-week high of 1,451, showing a notable decline from the peak. However, it remains above its 52-week low of 936, indicating some resilience. The presence of an Inside Candle pattern recently could suggest potential consolidation or indecision in the stock's price movement. The Average True Range (ATR) indicates high volatility, which could mean larger price swings in the near future.

In summary, EVERESTIND is facing resistance at higher levels and has strong support at lower levels. Traders should watch for potential breakout or breakdown signals near these key levels and consider the stock's current volatility when making trading decisions.