Network18 Media & Investments Limited (NETWORK18) Stock - Complete Technical Analysis - Oct 18, 2024

Network18 Stock Analysis Is a Breakout Coming Support & Resistance Explained

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.

Network18 Media & Investments Limited (NETWORK18) is currently trading at 81.68, approximately 39.81% below its 52-week high of 135.7, but it has rebounded 24.23% from its 52-week low of 65.75. Today's spinning top candle indicates indecision in the market, reflecting hesitation among buyers and sellers. The inside candle pattern seen on October 15 points to a possible breakout. The RSI shows that the stock isn't heavily overbought or oversold, implying the possibility of steady movement. MACD remains negative, signaling bearish pressure, while ADX highlights the weak trend momentum. Stochastic indicators suggest the stock is approaching overbought territory, which could signal a potential short-term reversal. Multiple moving averages indicate resistance above the current price, with levels between 82 to 88 being key to watch for any breakthroughs. Awesome Oscillator and Williams Percent Range are leaning toward the bearish side as well, aligning with a cautious outlook. ATR values suggest that the stock has had relatively lower volatility recently, but traders should be alert for sudden price movements, as they could indicate a strong shift. Watch the critical support around 76 and resistance near 85 for possible entry or exit points.