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Prism Johnson Limited (PRSMJOHNSN) Stock - Complete Technical Analysis - Oct 10, 2024
Prism Johnson Limited (PRSMJOHNSN) Stock Analysis: Key Levels & Insights for Traders
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.
Prism Johnson Limited (PRSMJOHNSN) is currently trading at 196.44, showing a significant distance of 20.15% below its recent 52-week high of 246.0, reached on September 11, 2024, and a notable increase of 63.70% above its 52-week low of 120.0, recorded on October 25, 2023. The stock's recent performance reveals a bearish evening star pattern, indicating potential reversal, and it has been under pressure with the last five trading sessions experiencing a notable high of 200.28 and a low of 195.37.
The Average Directional Index (ADX) stands at 33.26, indicating a strong trend, though the RSI at 49.66 suggests that the stock is currently in a neutral phase, lacking clear momentum. The Stochastic %K reading at 19.35 indicates oversold conditions, potentially paving the way for a bounce-back. However, with the MACD at 2.46, the stock might still face downward pressure, while the Awesome Oscillator at 0.7 further supports this sentiment.
Support levels appear at 197.28, validated by the recent inside candle pattern, while resistance is evident near 204.67, as the stock has failed to breach this level in recent sessions. The stock's volatility is reflected in the ATR of 23.24, suggesting potential price fluctuations in the near term. Traders should closely monitor the 200 and 204 levels for breakouts or reversals, particularly following the observed price action. Overall, while the stock may experience short-term bounces, caution is advised due to bearish signals and patterns indicating potential downside risk.
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