Ganesha Ecosphere Limited (GANECOS) Stock - Complete Technical Analysis - Aug 30, 2024

"GANECOS 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.

Let's dive into the technical analysis for Ganesha Ecosphere Limited (GANECOS).

Currently, the stock is trading at 1,815, which is 11.45% below its 52-week high of 2,049.5 and 123.73% above its 52-week low of 811.15. This indicates that GANECOS has been on an uptrend over the past year but has recently faced some resistance near its highs.

Support and Resistance Levels:

Support Levels:

Classic Pivot S1: 1,458.63

Camarilla Pivot S1: 1,587.18

Fibonacci Pivot S1: 1,451.61

Woodie Pivot S1: 1,485.55

Resistance Levels:

Classic Pivot R1: 1,689.53

Camarilla Pivot R1: 1,629.52

Fibonacci Pivot R1: 1,628.02

Woodie Pivot R1: 1,716.45

Technical Indicators:

MACD: The MACD line shows bullish momentum, but the level suggests a potential for consolidation or minor retracement.

RSI: The RSI is in the neutral zone, indicating balanced buying and selling pressure.

ADX: A high ADX value suggests a strong trend; however, it could signal overextension if the trend continues.

Stochastic Oscillator: The Stochastic %K is in the neutral range, suggesting that the stock might be in a consolidation phase.

EMA and SMA: Both the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) are above the current price, indicating resistance and a bearish outlook in the short term.

Ichimoku Base Line: The stock price is above the Ichimoku Base Line, which typically signals an uptrend.

Pivot Points: The stock is trading above most of the classic, Camarilla, Fibonacci, and Woodie pivot points, showing overall bullish sentiment.

Chart Patterns:

Average True Range (ATR): The ATR indicates volatility. Currently, the stock is experiencing moderate volatility, which may affect trading strategies.

Conclusion:

GANECOS is currently in a consolidation phase with resistance around 1,689.53 to 1,716.45 and support around 1,458.63 to 1,485.55. Investors should watch these levels closely. The stock is in a strong uptrend but may experience some short-term resistance before a possible breakout.