Gufic Biosciences Limited (GUFICBIO) Stock - Complete Technical Analysis - Aug 30, 2024

"Is Gufic Biosciences (GUFICBIO) Set for a Downturn Bearish Signals

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.

For Gufic Biosciences Limited (GUFICBIO), the current price stands at 402, reflecting a complex technical landscape. The stock is showing signs of a bearish trend, supported by the formation of a Bearish Engulfing pattern and an Evening Star pattern, indicating a potential reversal in the uptrend.

Support and Resistance Levels:

Classic Pivot Points: The Classic Pivot point is at 353.42, with immediate resistance at 382.13 (R1) and further resistance at 407.77 (R2). Key support levels are 327.78 (S1) and 299.07 (S2).

Camarilla Pivot Points: For Camarilla pivots, the key resistance levels are 361.48 (R1) and 366.46 (R2), with significant support levels at 351.52 (S1) and 346.54 (S2).

Fibonacci Pivot Points: Fibonacci-based resistance levels are at 374.18 (R1) and 387.0 (R2), while support levels are at 332.65 (S1) and 319.83 (S2).

Woodie Pivot Points: Resistance is noted at 385.03 (R1) and 409.21 (R2), with support at 330.68 (S1) and 300.51 (S2).

Technical Indicators:

MACD: Currently, the MACD is in a positive zone, suggesting upward momentum but watch for potential bearish crossovers.

RSI: The RSI is close to overbought territory, suggesting that the stock may be due for a pullback.

Stochastic Indicators: Both the Stochastic %K and Stochastic RSI are in overbought conditions, reinforcing the bearish signals.

ADX: The ADX is below 20, indicating a weakening trend and potential consolidation.

Moving Averages: The stock is trading above its 10-day and 20-day EMAs, but below its 50-day and 100-day EMAs, suggesting a possible bearish shift.

Average True Range (ATR): The ATR values indicate moderate volatility, suggesting that traders should be cautious of significant price swings.

Overall, the technical indicators combined with the bearish chart patterns suggest caution. Traders should monitor key support levels and be prepared for potential declines if the stock fails to hold above these levels.