CESC Limited (CESC) Stock - Complete Technical Analysis - Oct 17, 2024

CESC Limited: Key Technical Analysis & Insights for Traders

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. CESC Limited (CESC) is currently trading at 192.97, reflecting moderate price action near recent highs. The stock is 9.19% below its 52-week high of 212.49, reached on September 26, 2024, while being 134.47% above its 52-week low of 82.3 from October 26, 2023. This upward trend indicates a robust recovery over the past year.

Recent volatility is highlighted by spinning top candles, which signify indecision in the market. Today's price opened at 193, peaked at 193.78, and dipped to a low of 190.21, closing at 192.97. Analyzing the last five trading days reveals fluctuating highs and lows, signaling traders should proceed with caution. The classic pivot point stands at 198.67, with immediate support noted at 184.85crucial levels to observe.

Technical indicators show a mixed outlook. The MACD is slightly negative, hinting at potential bearish momentum, while the RSI at 51.19 indicates a neutral position. The ADX reading of 14.9 suggests a weak trend, pointing toward consolidation before a decisive move.

The Stochastic %K and Stochastic RSI indicate neutrality, suggesting traders should watch for a breakout in either direction. Overall, the sentiment advises a cautious approach, with resistance at 198.67 and support at 184.85. Given the current technical landscape, traders should stay alert for volatility while awaiting confirmation of a trend before entering positions.