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Thomas Cook (India) Limited (THOMASCOOK) Stock - Complete Technical Analysis - Oct 18, 2024
Thomas Cook Stock Analysis: Bearish Signals and Trading Insights
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. Currently, Thomas Cook (India) Limited is priced at 194.24, reflecting a 26.42% decrease from its 52-week high of 264.0, while being 71.06% above its 52-week low of 113.55. Recent price movements reveal a bearish sentiment as illustrated by patterns like Bearish Engulfing and Evening Star, indicating potential declines ahead.
Technical indicators suggest caution, with the RSI at 44.08 nearing oversold territory, which may indicate possible consolidation or minor reversal. The MACD is negative, reinforcing bearish momentum, and the ADX at 26.1 shows moderate trend strength. The Awesome Oscillator is also negative, supporting the bearish outlook.
Volatility, measured by the ATR, shows a range of about 11.32 to 15.30 over the past month, signaling average movement levels that traders should keep in mind for potential entries and exits. Recent price action demonstrates a sharp decline from the recent high of 202.78, suggesting resistance around 198.86 and support near 190.41. Given the bearish patterns and market sentiment, traders should exercise caution and wait for confirmation of support before entering significant positions.
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