Metro Brands Limited (METROBRAND) Stock - Complete Technical Analysis - Sep 05, 2024

Metro Brands Limited (METROBRAND) Stock Analysis: Key Levels, Indicators

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.

Metro Brands Limited (METROBRAND) currently trades at 1,274, which is about 11.72% below its 52-week high of 1,441.20, and 29.10% above its 52-week low of 985.55. The stock has shown an inside candle pattern on September 4, 2024, with a trading range between 1,231.05 and 1,318.00, indicating a consolidation phase.

In terms of technical indicators, the MACD is negative, suggesting bearish momentum. The RSI is in the neutral zone, reflecting a balance between buying and selling pressures. The Stochastic Oscillator and Stochastic RSI are both in oversold territory, hinting at potential for a rebound. The ADX indicates a weakening trend, implying a less strong directional movement.

Moving averages show mixed signals. Short-term EMAs (10-day and 20-day) are above the current price, while longer-term EMAs (50-day and 200-day) are below it, reflecting a potential resistance around 1,295 to 1,306 and support around 1,193 to 1,247. The Ichimoku Base Line suggests a potential resistance level around 1,328, while the Hull Moving Average indicates support around 1,259.

Pivot levels reveal critical points with the classic pivot at 1,320.77 and Camarilla pivot suggesting immediate resistance around 1,324.73 and support at 1,287.37. The ATR indicates volatility, which traders should consider when making decisions.

Overall, the stock is in a consolidation phase with potential resistance near 1,320 and support around 1,259. Traders should watch these levels closely for any breakout or breakdown signals.