Archean Chemical Industries Limited (ACI) Stock - Complete Technical Analysis - Oct 10, 2024

Archean Chemical (ACI) Stock Analysis Is a Reversal Coming Key Levels 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. Archean Chemical Industries Limited (ACI) is currently trading at 675, showing a 19.91% decline from its 52-week high of 837.7 and a 31.55% rise from its 52-week low of 510.05. The stock has seen a series of price fluctuations over the past few days, with notable resistance around the 690-710 range, as indicated by the recent price actions. Key support lies around 670, which aligns with recent lows.

Technically, ACI is exhibiting bearish momentum. Indicators like MACD and RSI point to weakness in the current trend, with MACD levels showing a continued downward trajectory, and RSI sitting below 40, indicating that the stock is in the oversold zone. The Stochastic RSI further supports this, highlighting that the stock might be oversold, signaling a potential reversal.

Moving averages reinforce the bearish sentiment, as the short-term EMAs and SMAs are trending below the long-term averages, signaling continued selling pressure. The ADX indicates weak trend strength, which could suggest limited directional momentum in the near term.

The Awesome Oscillator and Williams Percent Range also show bearish signals, while the Commodity Channel Index reflects the stock's significant downward momentum. Volatility remains moderate, with ATR values signaling potential price fluctuations.

In summary, ACI is in a bearish phase, with resistance around 690-710 and support near 670. Watch for potential reversal signals, especially if the stock breaks out of this zone. Traders should closely monitor key indicators like RSI, MACD, and volume for entry points.