REC Limited (RECLTD) Stock - Complete Technical Analysis - Oct 22, 2024

REC Limited Technical Analysis: Is Now the Time to Buy

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. REC Limited is currently trading at 508, which is 22.32% below its 52-week high of 654, recorded on July 12, 2024, while showing a remarkable increase of 95.82% from its 52-week low of 259.45 on October 26, 2023. Recent trading patterns indicate significant volatility, with price fluctuations observed in the last five trading sessions. For example, the stock opened at 531.00 today but hit a low of 505.30 before closing at 508.05, after reaching a high of 532.00.

The Average Directional Index (ADX) is at 31.19, which indicates a strong trend, while the Relative Strength Index (RSI) sits at 36.32, suggesting potential oversold conditions. The MACD shows a bearish trend with negative momentum, reinforcing concerns about further declines. The Awesome Oscillator is also negative, confirming the bearish sentiment in the market.

Key support levels are around 497.77 and 441.03, as indicated by various pivot analyses, while the resistance is expected near 566.58. The Average True Range signals heightened volatility, advising traders to remain vigilant. As the stock approaches these support levels, it may present buying opportunities if a reversal occurs.

In summary, REC Limited displays a complex picture of volatility and potential price corrections. Traders should watch these pivotal levels closely, considering market developments for informed decisions on entry and exit points.