Flair Writing Industries Limited (FLAIR) Stock - Complete Technical Analysis - Aug 30, 2024

Flair Writing Industries Technical Analysis 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. Flair Writing Industries Limited (FLAIR) presents a mixed technical outlook. Currently trading at 308, the stock is 40.18% below its 52-week high of 514.4 and 25.03% above its 52-week low of 246.1.

The Average Directional Index (ADX) is relatively low, indicating a weak trend strength. The RSI is around neutral, suggesting the stock is neither overbought nor oversold. The Stochastic %K and Stochastic RSI are in the overbought zone, signaling potential for a pullback or consolidation.

The MACD is close to its signal line, reflecting indecision in momentum. The Momentum indicator is showing a decreasing trend, and the Commodity Channel Index (CCI) is in the positive range, indicating the stock might be overbought.

Price action is influenced by the Classic Pivot Points, with the current price near the Classic Pivot S1 level of 298.87, suggesting potential support here. Resistance levels can be found at Classic Pivot R1 (342.57) and Classic Pivot R2 (361.38). Other pivot points, such as Fibonacci and Camarilla, offer additional support and resistance levels, with the Fibonacci S1 at 300.99 and R1 at 334.38, and Camarilla S1 at 319.74 and R1 at 327.76.

The stock recently formed a Bullish Harami pattern, followed by a Spinning Top candle, which indicates market indecision. The presence of these patterns suggests caution, as the market could be preparing for a potential reversal or consolidation phase.

Moving averages are providing mixed signals, with short-term averages slightly above the current price, while longer-term averages, such as the 100-day and 200-day SMAs, are below, suggesting potential support.

Overall, traders should watch for a potential breakout or breakdown near these support and resistance levels and monitor the technical indicators for further confirmation of market direction.