Crest Ventures Limited (CREST) Stock - Complete Technical Analysis - Oct 03, 2024

Detailed Technical Analysis of Crest Ventures Limited: Is a Trend Reversal Coming

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.

Crest Ventures Limited is currently trading at 524.80, which is 15.58% below its recent 52-week high of 621.65 and 136.29% above its 52-week low of 222.10. The stock's price movements over the last few days indicate notable volatility and potential trends that traders should consider. The last five trading days show a bearish engulfing pattern, suggesting a possible reversal in price momentum, especially as the stock closed lower than its previous day.

The Average Directional Index indicates a strong trend at over 40, while the Relative Strength Index is neutral, suggesting that the stock is neither overbought nor oversold. The MACD is currently in a bullish position, providing some optimistic signals for potential upward movements. However, the Stochastic RSI indicates that the stock may soon face selling pressure due to its proximity to overbought conditions.

In terms of support and resistance, immediate support can be observed around 520, which coincides with the recent low. If the price breaks below this level, further support is anticipated at 441.92, as per classic pivot analysis. On the upside, resistance is likely at 548.55, the recent high, and a critical level to watch. A breach of this level could signal a return to bullish territory, particularly if accompanied by increased volume.

Traders should also monitor the volume and average true range, which suggest heightened volatility. If price gaps are noted during upcoming sessions, particularly below support, a trend reversal could be in play. The current trading range reflects a tense environment, with potential price drops if bearish sentiment persists. In conclusion, maintaining a close watch on these indicators, especially the key support level at 520 and resistance at 548.55, will be essential for informed trading decisions.