NCC Limited (NCC) Stock - Complete Technical Analysis - Sep 27, 2024

NCC Stock Analysis: Is a Bounce Coming Soon Key Support and Resistance 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.

NCC Limited is currently trading at 302.40, which is 17.04% below its 52-week high of 364.5 and significantly higher than its 52-week low of 136.55. From a technical perspective, the stock shows signs of weakness in the short term, with the RSI at 39.35 indicating bearish momentum, and the MACD below zero, suggesting downward pressure. Momentum indicators like the Awesome Oscillator and Williams Percent Range are also leaning bearish, reflecting the stock's recent price decline. The ADX at 21.95 shows weak trend strength, indicating indecisive market behavior.

The stock is currently below key short-term moving averages, such as the 10-day and 20-day EMAs, which signals potential resistance in the near future. However, the 200-day EMA around 270.92 is providing long-term support, showing that despite the current dip, NCC is still in a bullish phase in the long run. With the stock close to its first major support level around 297, traders should watch for a potential bounce at this level. If it holds, we could see a retest of resistance around 314-321 levels.

Chart patterns suggest consolidation as the stock nears oversold territory. The Stochastic RSI is also low, hinting at the possibility of a short-term recovery if buying pressure picks up. Traders should keep an eye on the MACD crossover and the ADX trend strength to confirm future market moves. Overall, NCC is at a critical juncture, and traders should remain cautious while the stock stays under short-term resistance levels.