Gujarat Fluorochemicals Limited (FLUOROCHEM) Stock - Complete Technical Analysis - Sep 05, 2024

Gujarat Fluorochemicals Stock Analysis: Key Support

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. Gujarat Fluorochemicals Limited (FLUOROCHEM) is currently trading at 3,524. Here's a detailed technical analysis of the stock:

Support and Resistance Levels:

Immediate Support: 3,049

Immediate Resistance: 3,400

Technical Indicators:

RSI: The RSI is at 66.5, indicating that the stock is nearing overbought territory. Traders should be cautious as the stock might experience a pullback soon.

MACD: The MACD is currently negative, suggesting bearish momentum in the short term.

ADX: The ADX is at 11.83, which shows a weak trend. This implies that the stock might not have a strong directional movement.

Stochastic Oscillator: With the Stochastic %K at 39.13, the stock is neither in the overbought nor oversold region, suggesting a neutral stance.

Moving Averages: The stock is currently trading above the short-term moving averages (10, 20, and 30-day) but below the long-term moving averages (100 and 200-day). This indicates a mixed trend where short-term bullishness is contrasted by long-term bearishness.

Ichimoku Base Line: The stock is trading below the Ichimoku Base Line of 3,326.55, indicating potential bearish pressure.

Average True Range (ATR): The ATR values show significant volatility, suggesting that traders should be prepared for potential price swings.

Chart Patterns:

The stock is currently trading 10.09% below its 52-week high of 3,920, signaling potential resistance around this level. The current price is 42.34% above its 52-week low of 2,476, showing strong recovery.

Overall, while the stock shows potential for further gains in the short term, caution is advised due to bearish MACD signals and weak ADX readings. Traders should watch for any signs of a reversal or breakout above key resistance levels for a clearer trend direction.