PC Jeweller Limited (PCJEWELLER) Stock - Complete Technical Analysis - Aug 30, 2024

PC Jeweller Stock Analysis: Support, Resistance

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. For PC Jeweller Limited (PCJEWELLER), trading at 111, we see some important technical indicators. The stock is currently 10.58% below its 52-week high of 123.99 and 335.64% above its 52-week low of 25.45. The technical outlook shows strong momentum with the MACD indicating bullish sentiment. The RSI is near 68, suggesting the stock is approaching overbought conditions. The ADX is very high, indicating a strong trend, but this could also signal potential volatility.

Support levels are around the 100 to 102 range, as indicated by the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA), while resistance is evident at the 122 to 125 levels. The Classic Pivot Points, Camarilla, and Fibonacci levels further reinforce these zones with pivots at 79.38 and resistance at 122.85.

Chart patterns show indecision, with a Doji and Spinning Top pattern appearing, reflecting mixed sentiment in the market. The stocks ATR suggests that recent price movements are relatively volatile. The Ichimoku Base Line and Hull Moving Average also support the current price level as a significant area of interest. The CCI and Awesome Oscillator align with a positive short-term outlook, but the stocks overall trend requires cautious observation due to high volatility and the proximity to resistance levels.

In summary, while the stock is on an upward trajectory, traders should watch for resistance around 122 and support around 100, considering the strong trend indicated by the ADX and the mixed signals from candlestick patterns.