Mstc Limited (MSTCLTD) Stock - Complete Technical Analysis - Oct 18, 2024

MSTCLTD Technical Analysis: Key Levels & Indicators for Smart Trading

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. In this technical analysis of Mstc Limited, MSTCLTD is currently trading at 694.35, positioned 40.40% below its 52-week high of 1165, recorded on January 31, 2024, and 66.39% above its 52-week low of 417.3 from December 1, 2023.

The recent trading patterns reveal that the stock opened at 707.45 on October 18, 2024, facing downward pressure to a low of 684.10 before closing at 694.35. This indicates resistance around the 707-730 range, while support can be found between 684 and 688.

Technical indicators provide further clarity. The MACD shows a bearish crossover, and the RSI sits near 47, implying neither overbought nor oversold conditions. With an ADX value indicating a weak trend strength at 23.18, we may experience increased volatility soon.

An inside candle pattern formed on October 9 suggests a consolidation phase that could precede a breakout. Notably, gaps in price movements, particularly during the recent surge towards 738, should be monitored closely.

Lastly, the average true range indicates moderate volatility, presenting opportunities for traders to leverage short-term price changes. Keeping these support and resistance levels and indicators in mind will be essential for making informed trading decisions.