Hathway Cable & Datacom Limited (HATHWAY) Stock - Complete Technical Analysis - Oct 21, 2024

Hathway Cable Stock Analysis: Is a Rebound Coming NSE 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.

Analyzing Hathway Cable & Datacom Limited reveals several key insights. The stock is currently priced at 19.4, significantly below its 52-week high of 27.95 and moderately above its 52-week low of 17. Recent price action shows it has been in a downtrend, with the last five trading days seeing a decline from 20.90 to today's price.

Key support is at 19.75, with further support at 18.95, indicating where buyers might step in. Resistance levels are around 20.96 and 21.76, where selling pressure may increase.

The technical indicators paint a mixed picture. The ADX is at 12.54, showing a weak trend, while the RSI at 37.97 suggests that the stock is oversold, potentially indicating a buying opportunity. The MACD is negative, and the Stochastic is also below 40, indicating bearish momentum.

Volatility is present as indicated by the ATR over the past two weeks. Traders should monitor movements near support and resistance levels and be cautious of short-term trends that may indicate reversals or continued declines. Overall, Hathway presents opportunities, especially for those considering a bounce-back as the indicators suggest potential recovery from current oversold conditions.