Satin Creditcare Network Limited (SATIN) Stock - Complete Technical Analysis - Sep 30, 2024

Satin Creditcare Technical Analysis: Is It Time to Buy or Sell

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.

Satin Creditcare Network Limited (SATIN) is currently trading at 194, reflecting a notable decrease of approximately 31.74% from its 52-week high of 283.55, reached on January 11, 2024. The stock is showing signs of weakness, as evidenced by the RSI, which is hovering below 25, indicating that the stock is oversold. The MACD is negative, suggesting a bearish momentum, while the Stochastic indicator indicates extreme oversold conditions.

On the downside, immediate support can be observed around the 189.67 level, with further support at the 183.05 mark, which is the stock's 52-week low. Conversely, resistance is expected near the 205 level, followed by stronger resistance around the 210 area, where multiple moving averages converge.

The ADX indicates a weak trend strength, reinforcing the importance of waiting for a clearer breakout before making significant trading decisions. The overall sentiment remains bearish, with caution advised for investors as the stock could test lower levels. Traders should monitor for potential reversals or bullish patterns before entering positions.