Modern Threads (India) Limited (MODTHREAD) Stock - Complete Technical Analysis - Sep 23, 2024

Modern Threads Stock Analysis: Key Insights & Trading Levels

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 analysis, we focus on Modern Threads (India) Limited, currently trading at 58.2. The stock is approximately 22.9% below its 52-week high of 75.5, achieved on May 10, 2024, and an impressive 177.14% above its 52-week low of 21.0, recorded on February 14, 2024.

The technical indicators suggest a neutral to slightly bullish outlook. The Average Directional Index indicates a weak trend, while the RSI hovers around the midpoint, suggesting the stock is neither overbought nor oversold. The MACD is positive, hinting at potential upward momentum. The Stochastic oscillator also shows the stock is in a moderate range, indicating room for upward movement.

Support is evident around 55.74, while resistance can be found near 60.59. Traders should monitor these levels closely, as a break above resistance could signal further gains, while a drop below support may suggest a need for caution.