Dreamfolks Services Limited (DREAMFOLKS) Stock - Complete Technical Analysis - Aug 30, 2024

"Dreamfolks Services Stock Analysis: Key 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.

Heres a comprehensive technical analysis of Dreamfolks Services Limited (DREAMFOLKS) stock.

Current Price: 479

Support Levels: The stock is currently trading near its support at 466.53, which is aligned with the Camarilla S1 pivot. Further support is seen around 455.4, matching the Classic S1 pivot. Additional support levels are at 441.2 and 433.1, with the latter being the 52-week low.

Resistance Levels: Immediate resistance is identified at 488.9, which corresponds to the Classic R1 pivot. Higher resistance is at 508.2 and 541.7, from the Classic R2 and R3 pivots respectively. The Fibonacci R1 level at 487.5 also reinforces this resistance.

Moving Averages: The stock is trading slightly above its 10-day EMA and SMA, indicating a short-term bullish trend. The 10-day EMA is at 464.93 and the 10-day SMA is at 461.15. The 50-day EMA at 469.99 and the 50-day SMA at 470.38 are also showing that the stock is above these averages, further supporting the bullish momentum. Long-term averages like the 200-day EMA and SMA are higher, which reflects a solid long-term uptrend.

Pivot Points: The Classic Pivot P at 474.7 is crucial for assessing the balance between support and resistance. The Camarilla Pivot P and Fibonacci Pivot P align with this level, emphasizing its importance.

Technical Indicators:

MACD: The MACD is near the zero line, indicating a neutral to slightly bearish sentiment.

RSI: The Relative Strength Index is at 57.94, showing that the stock is in a neutral to bullish state, not yet overbought.

ADX: The ADX is low, suggesting a weak trend strength.

Stochastic: The Stochastic %K is at 74.37, suggesting potential overbought conditions, while the Stochastic RSI is high, reinforcing strong bullish momentum.

Awesome Oscillator: At a low level, it indicates weaker momentum.

Williams Percent Range: At -6.84, the stock is in the overbought territory, suggesting a cautious approach.

Volume and Volatility: The Average True Range (ATR) indicates moderate volatility, suggesting that while there are price swings, they are not extreme. This should be considered when planning trades.

In summary, Dreamfolks Services Limited is experiencing a bullish phase with key support at 466.53 and resistance at 488.9. The stock's position above various moving averages and its technical indicators suggest a mixed to positive outlook. Traders should watch for resistance levels closely and be mindful of potential overbought signals due to the high ATR and Stochastic readings.