FDC Limited (FDC) Stock - Complete Technical Analysis - Oct 11, 2024

FDC Limited Technical 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.

FDC Limited's current price is 536.20, reflecting a notable drop of 18.62% from its 52-week high of 658.85 reached on September 12, 2024. The stock exhibits strong fundamental indicators with a P/E ratio of 27.8 and ROCE at 18.5%, suggesting a robust financial performance. However, technical indicators reveal a more cautious outlook.

The recent price action shows an Evening Star pattern, indicating a potential bearish reversal. The stock has been trading within a narrow range, evident from the inside candle pattern observed on October 10, 2024, with a parent high of 553.4 and low of 526.0. Notably, the stock's resistance level is around 553, which aligns with yesterday's high. A breach of this level could indicate further upward momentum, while a fall below the support level near 526 could trigger more selling pressure.

Looking at the moving averages, the 10-day EMA is at 534.34, providing immediate support, while the 50-day SMA at 535.55 is another crucial level to watch. Additionally, the MACD is in negative territory, suggesting downward momentum, while the RSI is at 48.25, indicating the stock is neither overbought nor oversold. The Average Directional Index (ADX) at 27.63 indicates a moderate trend strength.

In the short term, traders should watch for sudden price movements, particularly if the price breaks below the support level or fails to surpass the resistance at 553. The stock's volatility is reflected in the Average True Range (ATR) of 45.34, highlighting the potential for significant price swings in either direction.

Overall, FDC Limited is at a critical juncture, and traders should be cautious as the technical indicators suggest a possible bearish reversal. Monitoring key levels will be crucial for determining the next direction for the stock.