Power Finance Corporation Limited (PFC) Stock - Complete Technical Analysis - Oct 22, 2024

Power Finance Corporation Stock Analysis Is a Rebound Coming Key Support & Resistance Levels

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.

PFC has experienced a notable decline, trading at 442, which is well below its 52-week high of 580. This indicates a bearish trend in recent sessions, with significant selling pressure evident. The ADX shows moderate trend strength, and the RSI indicates the stock is nearing oversold territory, raising the potential for a rebound. However, the MACD remains in the negative zone, signaling that bearish momentum is still dominant. With Awesome Oscillator also negative, the overall sentiment remains cautious.

The stock is trading below key moving averages, including the 200-day EMA, which adds to the bearish outlook. Immediate support levels are found around 435 and 425, with resistance at 460 and 470. A breach of these support levels could lead to further downside, while resistance levels will be crucial in confirming any potential recovery. The ATR shows elevated volatility, which may create opportunities for swing traders but also implies risk. Traders should watch for a reversal pattern, such as a bullish divergence in RSI or MACD, before making a long entry.