REC Limited (RECLTD) Stock - Complete Technical Analysis - Sep 03, 2024

REC Limited Technical Analysis: Bullish Signals and Key Support

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. Today, let's dive into the technical analysis for REC Limited. The stock is currently trading at 629, with the Average Directional Index (ADX) at a low 15.75, indicating a weak trend. The Relative Strength Index (RSI) stands at 60.88, suggesting the stock is neither overbought nor oversold but is leaning towards a positive momentum. The Stochastic %K is high at 81.7, hinting at possible overbought conditions, while the Stochastic RSI Fast shows a robust level of 88.33, reinforcing this notion.

On the momentum front, the indicator reads 29.5, suggesting strong upward momentum. The Commodity Channel Index (CCI) is at 130.02, reflecting strong bullish conditions. The MACD level at 8.27 also supports a bullish outlook, with the Awesome Oscillator reading 18.4, indicating increasing buying pressure.

Looking at moving averages, the stock is currently above the Exponential Moving Averages (EMAs) across multiple periods, including the 10, 20, and 50-day EMAs, signaling a strong bullish trend. The Hull Moving Average is close to the current price, which can act as short-term support.

Support levels are around the Classic Pivot S1 at 570.88 and S2 at 522.02, while resistance can be found near the Classic Pivot R1 at 657.78 and R2 at 695.82. The ATR indicates that volatility is moderate, which should be considered for setting stop-loss levels. Overall, REC Limited shows a bullish trend with strong indicators, but be cautious of the overbought signals and monitor the support levels closely.