Medi Assist Healthcare Services Limited (MEDIASSIST) Stock - Complete Technical Analysis - Oct 21, 2024

Medi Assist Healthcare Services: Technical Analysis for Traders Key Levels to Watch

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 Medi Assist Healthcare Services Limited, we observe the stock currently trading at 627.55, reflecting a recent bearish sentiment. The last five trading days reveal a clear downward trend, starting from a high of 687.85 and closing today at 627.55. Today's opening at 641.70 and subsequent decline highlight the ongoing selling pressure, particularly as the stock approached critical resistance levels near 650.

Key support is found at 624, while 601.78 serves as the next level should the price continue to drop. The ADX indicates a lack of strong trend momentum, suggesting the stock may be in a consolidation phase. RSI values approaching oversold territory point towards the possibility of a price reversal, supported by the Stochastic and Williams Percent Range indicators, which confirm this oversold condition.

The MACD remains positive but is flattening out, hinting at a loss of upward momentum. Traders should pay close attention to the upcoming price actionif the stock breaks below 624, it may lead to further declines, whereas a close above 650 could prompt a rally, possibly targeting 670. Given the moderate volatility reflected in the ATR, price movements could be pronounced in either direction, making this a critical time for traders to assess their strategies.