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Pearl Global Industries Limited (PGIL) Stock - Complete Technical Analysis - Sep 30, 2024

Unlocking Potential in Pearl Global Industries Limited: 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.

Analyzing Pearl Global Industries Limited (PGIL), the current price is 920, trading approximately 16% below its 52-week high of 1095 reached on August 27, 2024, and 88% above its 52-week low of 489.55 from September 28, 2023. The stock has shown mixed momentum with the RSI at 48.67, indicating a neutral stance; however, the Stochastic oscillator suggests potential oversold conditions with a %K of 19.21. The MACD is in negative territory, reflecting a bearish trend.

Looking at the moving averages, the Exponential Moving Average (EMA) is at 901.12 for the 10-day period and 921.32 for the 20-day period, while the Simple Moving Average (SMA) stands at 896.43 for the same duration, indicating potential resistance near 921. A key observation is the Ichimoku Base Line at 976.53, which aligns with the bullish pivot point and highlights a resistance level. The average true range indicates volatility, which suggests traders should be cautious when entering positions.

On the support side, levels around 880 and 732 are critical, as indicated by the pivot points. The overall trend appears to be weakening based on the ADX of 24.48, suggesting that the momentum is low, and traders may experience sideways movement. Monitoring these key indicators will be crucial for making informed trading decisions. In summary, while PGIL shows resilience above its recent lows, traders should watch for breakout levels at the resistance near 921 and keep an eye on support at 880 for potential buying opportunities.







 

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