Page Industries Limited (PAGEIND) Stock - Complete Technical Analysis - Oct 15, 2024

Page Industries Stock Analysis: Key Support & Resistance Levels Revealed

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. Technical Analysis for Page Industries Limited (PAGEIND)

As of October 15, 2024, Page Industries is trading at 46,257.70, which is slightly below its recent high. This analysis highlights key support and resistance levels, recent price trends, and notable indicators.

Support and Resistance Levels:

Support Levels: The immediate support level is at 45,560, followed by stronger support around the classic pivot at 42,348.07. A more robust level lies at 40,596.13, coinciding with the first support level of the Fibonacci pivot.

Resistance Levels: The stock faces immediate resistance at 46,496.90 (recent high) and a critical resistance at 46,408.07, the second Fibonacci pivot resistance. The 52-week high of 46,100 was reached recently, suggesting a strong psychological resistance point.

Price Trends:

The stock has shown a bullish trend, increasing by 39.88% from its 52-week low of 33,070.05 on March 20, 2024. Recent trading has reflected this trend, with significant upward movements observed over the past week.

Price action shows a tendency for sudden surges, especially with the latest high of 46,496.90 on October 15, indicating strong buying pressure.

Gaps in Price:

There have been notable gaps, especially between the close of October 9 at 43,935.40 and the opening of October 10 at 43,935.40, indicating potential volatility and strong market interest.

Volatility and Reversals:

The Average True Range (ATR) suggests considerable volatility, with an ATR around 2,107.83, indicating potential price fluctuations. The RSI at 73.64 suggests that the stock is nearing overbought conditions, which could signal a potential reversal in the short term.

The MACD and Awesome Oscillator levels suggest strong momentum, while the Stochastic RSI indicates an overbought status, reinforcing the possibility of a short-term pullback.

In summary, Page Industries Limited displays a bullish trend with significant momentum, although the overbought indicators may warrant caution for short-term traders. Investors should monitor the immediate support and resistance levels closely to inform their trading strategies.