Century Plyboards (India) Limited (CENTURYPLY) Stock - Complete Technical Analysis - Oct 17, 2024

Century Plyboards (India) Limited: 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. In today's analysis of Century Plyboards (India) Limited, we see that the stock is currently trading at 879.40, which is 5.95% below its recent 52-week high of 935.00 and a significant 48.05% above its 52-week low of 594.00. The stock's performance indicates a strong upward trend over the past year, highlighted by an inside candle pattern observed on October 16, 2024, suggesting potential consolidation with a parent high of 909.95 and a low of 872.70.

The last five trading days show a mix of volatility and price trends. The stock opened at 901.00 today with a low of 875.05 and a high of 901.00, closing at 879.40. Notably, the previous day saw an open of 887.00, a low of 872.70, and a close of 901.00, reflecting a price surge from the previous session. The Average Directional Index (ADX) at 34.89 indicates a strong trend, while the Relative Strength Index (RSI) at 53.75 suggests the stock is in a neutral phase, moving towards the bullish territory. The MACD shows a positive momentum, indicating buying interest.

Additionally, the stock's volatility is marked by a recent Average True Range (ATR), reflecting fluctuations in price. The stock is experiencing gaps in price movements, with significant trading volume on days of sudden price surges. Support is observed around the 860 mark, while resistance is seen near 900. Traders should watch for further movement in these areas to capitalize on potential opportunities.