Carborundum Universal Limited (CARBORUNIV) Stock - Complete Technical Analysis - Sep 05, 2024

Carborundum Universal Stock Analysis: Key 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. Technical Analysis for Carborundum Universal Limited (CARBORUNIV)

Current Price: 1,543

52-Week High: 1,841.15 (16.20% below)

52-Week Low: 1,025.60 (50.43% above)

Support and Resistance Levels:

Immediate Support: 1,440.98 (Classic Pivot S1), 1,503.63 (Camarilla S1)

Immediate Resistance: 1,671.88 (Classic Pivot R1), 1,567.13 (Camarilla R2)

Moving Averages:

The stock is currently trading above the Exponential Moving Averages (EMAs) for 10, 20, and 50 days, indicating a short-term bullish trend. However, it's trading below the longer-term EMAs (100 and 200 days) which suggests resistance at higher levels.

Ichimoku Analysis:

The Ichimoku Base Line is positioned at 1,623.13, which is above the current price, acting as a potential resistance level.

Pivot Points:

The stock is trading near the Classic Pivot Point of 1,588.07 and the Fibonacci Pivot Point of 1,588.07. These levels are crucial for determining short-term price movements.

Technical Indicators:

RSI: At 44.25, indicating that the stock is neither overbought nor oversold, but on the verge of a potential reversal.

MACD: Currently negative, suggesting bearish momentum.

ADX: At 13.3, indicating a weak trend.

Stochastic %K: Very low at 11.91, signaling the stock may be oversold.

Momentum: Negative, reinforcing bearish sentiment.

CCI: Negative, confirming the bearish trend.

Awesome Oscillator: Also negative, indicating a bearish bias.

Williams %R: At -76.28, indicating oversold conditions.

Ultimate Oscillator: Below 50, which typically signals a bearish trend.

Chart Patterns:

The stock is trading close to key pivot points and moving averages which are likely to influence the price action in the near term.

Volatility:

The Average True Range (ATR) is showing significant volatility, suggesting that traders should be cautious as price swings could be substantial.

Overall, Carborundum Universal Limited is currently in a bearish phase with potential support around 1,440.98 and resistance around 1,671.88. Traders should watch for a potential reversal if the price approaches the support levels or if indicators show signs of bullish momentum.