ACC Limited (ACC) Stock - Complete Technical Analysis - Sep 04, 2024

ACC Stock Analysis: Is a Breakout Imminent Key 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.

ACC Limited's stock is currently trading at 2,349, showing a cautious sentiment among traders. The RSI indicates that the stock is nearing the oversold zone, while the Stochastic RSI suggests potential bullish momentum, making it a crucial point to monitor for a trend reversal. The MACD level is negative, reflecting ongoing bearish pressure, but with a potential crossover in the near future, signaling a possible recovery.

The stock is currently trading below key EMAs, including the 20, 50, and 100-day averages, which shows a short to mid-term bearish trend. However, it's worth noting that the stock is trading near its Volume Weighted Moving Average (VWMA), suggesting that the recent price movements are in line with the overall market volume, which might stabilize the current trend. The Awesome Oscillator is also negative, reinforcing the ongoing bearish sentiment.

The ADX indicates a moderately strong trend, which aligns with the current market conditions. Traders should keep an eye on the Bullish Engulfing Pattern that has emerged, which might be a signal for a potential uptrend, especially if the price sustains above the immediate support levels.

In terms of support and resistance, the stock has a strong support level around 2,320, while resistance is seen near 2,400. A break above the resistance level could trigger a further upward movement towards the next resistance zone, around 2,500. Conversely, if the stock breaks below the support, it might test lower levels, offering a potential buying opportunity for long-term investors.

Overall, ACC Limited is currently in a consolidation phase, with a cautious outlook. Traders should watch for a breakout or breakdown from the current levels to make informed trading decisions.