Delta Corp Limited (DELTACORP) Stock - Complete Technical Analysis - Oct 21, 2024

Delta Corp Limited Technical Analysis: Key Levels and Trading 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. Delta Corp Limited's stock analysis reveals key technical indicators for traders to consider. Trading at 119.02, it remains 25.52% below its 52-week high of 159.8 from January 2024, yet sits 13.95% above its 52-week low of 104.45. Recent trading patterns, specifically the formation of three black crows, indicate a bearish continuation trend.

In the last five trading days, the stock opened today at 120.60, hitting a low of 118.51 and a high of 122.59 before closing at 119.02. The ADX at 24.18 suggests a weak trend, while the RSI, currently at 33.95, indicates the stock is oversold, potentially paving the way for a price reversal. Traders should remain alert for any bullish divergences to confirm a rebound.

Support levels are around 118.44, while resistance can be seen near 130.35. The current trading is below key moving averages, indicating downward momentum. For traders, a move above 122.59 might signal a bullish reversal, while falling below 118.51 could lead to increased selling pressure. Close monitoring of these levels will be essential for informed trading decisions.