Vodafone Idea Limited (IDEA) Stock - Complete Technical Analysis - Sep 04, 2024

Vodafone Idea Stock Analysis: 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. Vodafone Idea Limited (IDEA) is currently trading at 14.8, and here's a detailed technical analysis based on various indicators:

Support and Resistance Levels: The stock has key support at around 14.9 and 14.3, with strong resistance levels near 16.4 and 17.2. These levels are crucial for traders to watch for potential price movements.

Moving Averages: The current price is below most moving averages, indicating a bearish trend. The 10-day EMA is at 15.5, while the 50-day SMA is at 16.22. The price is also below the 200-day EMA of 14.39, suggesting long-term bearish sentiment.

Trend Indicators: The Average Directional Index (ADX) is low at 14.67, indicating a weak trend. The MACD is negative, suggesting bearish momentum. The RSI is at 37.14, showing the stock is in the oversold zone, which could indicate a potential reversal if it moves above 40.

Oscillators and Momentum: The Stochastic %K and Stochastic RSI are very low, indicating potential oversold conditions. The Awesome Oscillator and Williams %R also reflect bearish signals, suggesting downward pressure. The Commodity Channel Index is deeply negative, reinforcing the bearish trend.

Chart Patterns: The stock is trading below the Ichimoku Base Line (15.66), and other indicators like the Hull Moving Average and various pivot points also reflect a bearish outlook. The Average True Range (ATR) is relatively high, indicating potential volatility.

In summary, Vodafone Idea Limited is experiencing a bearish trend with the price below key moving averages and various indicators suggesting potential oversold conditions. Traders should keep an eye on the support and resistance levels for possible reversal signals and be cautious of the current bearish momentum.