Gokaldas Exports Limited (GOKEX) Stock - Complete Technical Analysis - Oct 11, 2024

Gokaldas Exports Limited: Bullish Engulfing & 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.

In analyzing Gokaldas Exports Limited (GOKEX), we see the stock currently trading at 932.15, which places it approximately 17.36% below its 52-week high of 1128.0, reached on August 7, 2024. Conversely, it sits about 35.74% above its 52-week low of 686.7, recorded on March 13, 2024. The recent price action indicates some volatility, particularly highlighted by the bullish engulfing pattern observed in the last trading session, where it opened at 915.15, hit a low of 915.15, and a high of 936.65, finally closing at 932.15.

Looking at the indicators, the MACD suggests a bearish trend, currently at -5.44, while the RSI is at 48.54, indicating a neutral momentum. The ADX at 14.81 implies a weak trend, meaning price movements may not be sustained in either direction. The Stochastic oscillator is currently at 36.01, which can indicate potential upward momentum if it crosses above the 20 mark. The Awesome Oscillator at -28.13 further confirms the bearish sentiment in the short term.

Support levels can be identified around the recent lows of 915.15, with additional support seen at approximately 901.32. Resistance levels are highlighted near the previous highs, around 942.10 and the pivot point at 962.13. The average true range (ATR) shows considerable volatility, indicating that traders should expect fluctuations in price. The stock has shown price surges from the 900 range up to 936.65, revealing potential gaps that could lead to future price movements.

Overall, Gokaldas Exports is experiencing mixed signals. Traders should closely monitor the support and resistance levels for entry or exit points while keeping an eye on the indicators for confirmation of potential trends. A break above resistance could signal a buying opportunity, while a drop below support might prompt caution.