PAKKA LIMITED (PAKKA) Stock - Complete Technical Analysis - Oct 03, 2024

Pakka Limited Stock Analysis: Is a Reversal Coming Key Support & 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. Pakka Limited (PAKKA) is currently trading at 316.25, showing a recovery of 49.81% from its 52-week low of 211.1, while still 20.74% below its 52-week high of 399.0. The stock's recent price movement displays indecision, highlighted by today's spinning top candlestick. Short-term momentum is showing weakness with bearish signals from the MACD and RSI levels, while the ADX suggests a lack of strong directional movement. The Awesome Oscillator and Williams %R are also indicating bearish momentum, with the stock experiencing downward pressure.

The moving averages show that the stock is trading below key short-term EMAs (10, 20, and 30), pointing to short-term weakness. The longer-term trend, however, remains intact as the price is still above the 100-day and 200-day EMAs, which suggests that the overall uptrend from the 52-week low is not yet broken.

Support levels are evident near 298 and 274, while resistance lies closer to 354 and 385, according to pivot point analysis. Traders should watch out for any price action near these levels. The low stochastic values signal that the stock could be approaching oversold conditions, providing a potential entry point for reversal. With a low ADX, expect range-bound movement unless theres a sudden breakout from the current consolidation.

In summary, Pakka Limited is in a consolidation phase, with weak momentum but potential for reversal if key support levels hold. Keep an eye on price action near the 298 support for possible bounce opportunities.