360 ONE WAM LIMITED (360ONE) Stock - Complete Technical Analysis - Oct 08, 2024

360 ONE WAM Ltd Technical Analysis Bullish Reversal Ahead Key Levels & Indicators to Watch

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.

360 ONE WAM Limited (360ONE) is currently trading at 976.55, which is 19.63% below its 52-week high of 1215. The stock has shown significant volatility in recent sessions, with price drops from 1007.6 to 963.8. The Relative Strength Index (RSI) indicates a weak momentum at 39.85, signaling that the stock is nearing oversold territory, which may trigger a potential reversal. The Average Directional Index (ADX) at 18.56 suggests that the current trend lacks strength, and further confirmation will be needed before any strong directional move.

The MACD shows bearish momentum, with the indicator in negative territory, while the Stochastic Oscillator and Williams Percent Range both signal an oversold condition, hinting at the potential for an upward bounce. The Awesome Oscillator also reflects bearish sentiment but is flattening, indicating possible consolidation.

On the moving averages front, 360ONE is trading below both its 10-day Exponential Moving Average (EMA) and Simple Moving Average (SMA), which further confirms a bearish short-term trend. However, it remains above its 100-day and 200-day averages, suggesting that the broader trend remains bullish. Support levels appear around the 945-965 range, while resistance lies near 1007-1022, a break above which could lead to a reversal.

Additionally, a Bullish Harami pattern was spotted recently, which could indicate the end of the downtrend if confirmed by upcoming price action. Given the high volatility and ATR values, traders should watch for a potential breakout or reversal. If the stock holds above the 953 support level, there is a possibility of a bullish move toward the 1000+ range, but failure to maintain this level could result in a deeper pullback. Traders should stay cautious and wait for confirmation before making decisions.