Fertilizers and Chemicals Travancore Limited (FACT) Stock - Complete Technical Analysis - Sep 25, 2024

Fertilizers and Chemicals Travancore Limited Technical Analysis: Key Insights for Traders

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. Today, let's dive into the technical analysis of Fertilizers and Chemicals Travancore Limited, trading at 978.50. The stock is currently 17.57% below its 52-week high of 1187, achieved on June 21, 2024, and stands 93.38% above its 52-week low of 506 from October 9, 2023.

Looking at the MACD, we observe a positive level, indicating potential bullish momentum in the short term. The RSI is at 48.69, suggesting that the stock is neither overbought nor oversold, and is currently in a neutral zone. The Stochastic and Williams %R indicators are showing values below 50 and -61.88, respectively, pointing to a weak bullish momentum.

The Average Directional Index (ADX) stands at 25.78, indicating a strengthening trend, albeit not yet strong enough for a definitive trend direction. The Average True Range (ATR) suggests moderate volatility, while the Commodity Channel Index (CCI) is negative, indicating that the stock is in an oversold condition.

We recently witnessed an inside candle pattern on September 19, with a parent high of 1024 and low of 956.45, which indicates consolidation and potential for a breakout or breakdown.

In terms of support and resistance, immediate support can be identified around the recent pivot levels, while resistance can be expected near the previous high. Given the current trading environment, traders should keep an eye on these levels, as they may signal future price movements. Overall, FACT appears to be in a consolidating phase, making it essential for traders to monitor the price action closely for further signals.