COSMO FIRST LIMITED (COSMOFIRST) Stock - Complete Technical Analysis - Sep 02, 2024

COSMO FIRST LIMITED Stock Analysis: Support, Resistance

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. COSMO FIRST LIMITED, trading currently at 781, presents a mix of technical signals. Support levels are around 699.37 and 618.38, as suggested by Classic Pivot and Fibonacci S1 levels. Resistance can be seen at 848.93, aligning with the Classic Pivot and Fibonacci Pivots, and extending up to 1079.48, which aligns with the Classic Pivot R2 and Fibonacci R2. The stock is trading significantly below its 52-week high of 998.5, which highlights a potential resistance zone. On the technical indicators front, the MACD is currently in a bearish zone, reflecting downward momentum, while the RSI and Stochastic RSI are also indicating oversold conditions, suggesting potential upward reversals if buying pressure increases. The ADX suggests a weak trend strength, indicating potential for either consolidation or reversal. The stock's EMA and SMA values are above the current price, reinforcing bearish pressure but showing potential support at these levels. Notably, the Inside Candle pattern observed recently suggests consolidation within a defined range, with the price action being contained between the parent high of 806.35 and the low of 767.95. Traders should be cautious of these support and resistance zones and monitor for potential breakouts or trend reversals in the coming sessions.