Texmaco Rail & Engineering Limited (TEXRAIL) Stock - Complete Technical Analysis - Oct 18, 2024

Texmaco Rail & Engineering Limited Technical Analysis: Price Trends & Indicators 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. This is the technical analysis for Texmaco Rail & Engineering Limited, currently trading at approximately 204. We begin with support and resistance levels: key support is around 196.80, noted from the classic pivot S1, while resistance is evident near 220.39, the classic pivot point. The stock is 31.31% below its 52-week high of 296.49 and 83.97% above its low of 110.70, highlighting significant price movement over the last year.

Recent trading has been volatile; a high of 215.48 on October 17 was followed by a decline to 203.66 on October 18, signaling a potential reversal.

Indicators show an ADX of 31.53, indicating a strong trend. The RSI at 43.78 suggests neutral conditions, but the Stochastic RSI is at 91.37, indicating overbought conditions and potential for a pullback.

Additionally, the MACD is bearish at -6.29, and the momentum is negative. Bollinger Bands may further validate volatility near these price points.

In summary, watch for price behavior around 196.80 support. If it breaks through 220.39 resistance, it may indicate a bullish reversal. Monitor indicators for confirmation of trends and trade opportunities.