Coffee Day Enterprises Limited (COFFEEDAY) Stock - Complete Technical Analysis - Oct 03, 2024

Coffee Day Enterprises Stock Analysis Key Support & Resistance Levels Will It Break Out

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. Coffee Day Enterprises Limited (COFFEEDAY) is currently trading at 36.6, which is near its support levels after seeing a 49.50% drop from its 52-week high. The stock is showing mixed signals. The RSI is in the lower range, indicating it's approaching an oversold zone, suggesting a possible reversal soon. However, MACD remains below the signal line, hinting at continued bearish momentum. The ADX suggests a moderate trend strength, and with Stochastic RSI being near 68, we may see consolidation before a significant move. The price is currently below key moving averages, including the 100- and 200-day EMAs, signaling downward pressure. However, momentum indicators like the Awesome Oscillator and Ultimate Oscillator are giving bullish signs, suggesting buyers may soon gain control. The stock is approaching strong resistance around the 38.5-40 zone. Watch for a breakout or failure at these levels, as it will determine short-term direction. Traders should be cautious as ATR indicates moderate volatility, so expect price swings. Overall, COFFEEDAY presents a possible recovery opportunity, but confirmation of a breakout is essential before making a move.