Hathway Cable & Datacom Limited (HATHWAY) Stock - Complete Technical Analysis - Oct 11, 2024

Hathway Cable (HATHWAY) Technical Analysis: Watch for Key Support & Resistance Levels

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.

Hathway Cable & Datacom Limited (HATHWAY) is currently trading at 20.09, reflecting a notable 28.12% decline from its 52-week high of 27.95 achieved on February 6, 2024, while being 18.18% above its 52-week low of 17.0 from October 26, 2023. The recent price movement shows some volatility, with the stock experiencing fluctuations between 19.05 and 20.49 over the past week. On October 11, 2024, the stock opened at 19.95, reached a high of 20.28, and closed at 20.09, indicating a modest recovery from the previous day's low of 19.85.

Technical indicators suggest a mixed sentiment. The MACD is in negative territory, indicating a bearish momentum, while the RSI is hovering around 44.45, signaling that the stock is not yet oversold but is approaching neutral territory. The Stochastic %K is also around 45.99, further confirming a lack of strong upward momentum. The ADX at 13.01 suggests that the current trend lacks strength, which could lead to potential reversals in the short term.

Support levels can be identified around 19.75, which is near the S1 pivot, and if breached, could lead to further declines towards 18.95. Resistance is observed at 20.35, close to the EMA levels, and a breach above this level could propel the stock towards the next resistance zone at approximately 21.00. Moreover, the Bollinger Bands indicate some constriction, implying a potential breakout could be imminent, either up or down, depending on forthcoming market sentiments. Traders should monitor this closely for sudden price surges or drops, given the current volatility.

Overall, while the stock shows signs of weakness, traders should stay vigilant for potential reversals as it approaches critical support and resistance levels.