Exide Industries Limited (EXIDEIND) Stock - Complete Technical Analysis - Sep 05, 2024

Exide Industries (EXIDEIND) Technical Analysis: Bearish Signals

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 Exide Industries Limited (EXIDEIND), the technical analysis presents a mixed picture. Currently trading at 496, the stock is 20.10% below its 52-week high of 620.35, indicating some bearish momentum. Conversely, it is up 105.07% from its 52-week low of 241.7, showcasing a significant recovery.

Support and Resistance Levels:

Support Levels: Immediate support is seen around 472.35, which aligns with the Classic Pivot S1. The stock also has stronger support at 451.8, as per the Fibonacci Pivot S1, and further at 403.25 based on Classic Pivot S3.

Resistance Levels: On the upside, resistance is anticipated around 520.9, which is close to Classic Pivot R1, and further resistance might be encountered at 548.9, as per the Classic Pivot R2.

Technical Indicators:

MACD: The MACD is currently in negative territory, indicating a bearish trend. The MACD level is below zero, suggesting that the bearish momentum may continue.

RSI: The Relative Strength Index (RSI) is near 45, which implies that the stock is currently neither overbought nor oversold but is approaching a neutral zone.

ADX: The ADX level of 29.16 suggests a strong trend. Given the current price action, the trend appears to be more bearish than bullish.

Stochastic Oscillator: The Stochastic %K is at 20.36, indicating that the stock is in the oversold region, which could signal a potential reversal or a bounce.

EMA