Thejo Engineering Limited (THEJO) Stock - Complete Technical Analysis - Aug 30, 2024

Thejo Engineering Stock Analysis: Key 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. Thejo Engineering Limited, trading at 2,641, presents an intriguing technical picture. The stock is currently 28.79% below its 52-week high of 3,707.9 and 60.52% above its 52-week low of 1,645. Key support levels are likely around the Classic Pivot S1 at 2,828.47 and the Fibonacci S2 at 2,822.42. On the resistance side, significant levels include the Classic Pivot R1 at 3,549.77 and the Fibonacci R1 at 3,543.72.

The stock's MACD indicates bearish momentum, while the RSI suggests it is in oversold territory. The ADX reveals a moderate trend strength. The Ichimoku Base Line and multiple moving averages (both simple and exponential) suggest mixed signals, with the stock trading below most of its longer-term averages but above shorter-term ones. The Stochastic indicators point to oversold conditions, reinforcing the potential for a bounce or reversal. Additionally, the Commodity Channel Index and Williams Percent Range further support a bearish outlook.

In summary, with current price dynamics and technical indicators, Thejo Engineering Limited is positioned around key support levels. However, traders should watch for any shifts in momentum or trend indicators that might signal a change in direction. Keep an eye on these levels and indicators to make informed trading decisions.