PSP Projects Limited (PSPPROJECT) Stock - Complete Technical Analysis - Aug 30, 2024

PSP Projects Limited (PSPPROJECT) Technical Analysis Support

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. For PSP Projects Limited, currently trading at 683, the technical outlook presents a mixed picture. The stock is showing some support around the 681 to 683 range, as indicated by various pivot points and moving averages. Classic and Fibonacci pivots align at 681.45, suggesting initial support near this level, with additional support likely around 653.25 from Classic pivots and 624.35 from Fibonacci pivots. Resistance levels are observed at 710.35, 738.55, and up to 795.65 based on Classic pivots, with Fibonacci resistance aligning at 703.26 and 716.74.

The Average Directional Index (ADX) at 10.34 suggests a weak trend, while the Relative Strength Index (RSI) is at 49.92, indicating the stock is neither overbought nor oversold. The Stochastic %K at 43.76 and Stochastic RSI at 35.85 reinforce this neutral stance. MACD is positive at 0.3, hinting at potential upward momentum, though it remains modest. The Awesome Oscillator at 0.41 supports this, reflecting a slight bullish momentum.

Key moving averages are clustered around the current price, with the Exponential Moving Average (EMA) of 10, 20, and 30 days closely aligning with the stock price, indicating a tight trading range. The 50-day EMA at 681.34 and 200-day EMA at 694.89 suggest intermediate resistance and support. The Average True Range (ATR) indicates volatility, with recent values fluctuating around 50 to 58, suggesting moderate volatility.

Overall, traders should watch for price action around these pivotal levels. Breaking below 681 could signal a move towards lower support zones, while a rise above 710 could suggest a test of higher resistance levels. Keep an eye on the ADX for trend strength confirmation and monitor the RSI and MACD for further trend direction insights.