Landmark Cars Limited (LANDMARK) Stock - Complete Technical Analysis - Oct 21, 2024

Technical Analysis of Landmark Cars Limited: Support, Resistance & Trends

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 our detailed analysis of Landmark Cars Limited, currently priced at 638.35, we observe a bearish engulfing pattern, signaling potential selling pressure after a recent high of 664. This suggests resistance around that level. The stock has critical support near the 625-640 range, reinforced by the Ichimoku base line, which traders should watch closely.

The moving averages indicate that the stock is below the 10-day and 20-day exponential moving averages, hinting at a short-term bearish trend. The MACD shows a positive divergence, but with the ADX at a low 16.12, it reflects weak trend strength. The RSI is at 51, indicating a neutral position, meaning the stock is neither overbought nor oversold.

Volatility is highlighted by an ATR of about 29.40, revealing reasonable price movements. The Williams %R at -53.83 suggests the stock is not in extreme territory, potentially leading to sideways movement unless a strong catalyst emerges.

Recent price fluctuations, particularly the drop from 664 to 638.35, urge caution among traders. Keeping an eye on the support at 625 may present buying opportunities if stability occurs. Resistance remains firm at 664; a breakout here could shift sentiment, encouraging upward momentum in the stock.