Mazagon Dock Shipbuilders Limited (MAZDOCK) Stock - Complete Technical Analysis - Oct 23, 2024

Detailed Technical Analysis of Mazagon Dock Shipbuilders Limited (MAZDOCK) Stock

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. In this analysis of Mazagon Dock Shipbuilders Limited, trading at 4193.05, we observe significant recent price fluctuations, with a high of 4344.90 and a low of 4075.00. The formation of a Spinning Top candlestick indicates market indecision, a critical factor for traders to consider.

The nearest support level lies around 4075, with further support at 3825. On the resistance front, 4344 is a crucial level, followed by resistance at 4780. Currently, the stock is trading below key moving averages, particularly the 50-day and 100-day EMAs, suggesting a bearish trend may be in play. The MACD indicates a bullish crossover, while the RSI remains neutral, implying potential consolidation ahead.

The Average True Range reflects moderate volatility, and the ADX at 17.37 suggests low trend strength. Traders should be vigilant, especially considering the Awesome Oscillator's bullish indication alongside the CCI suggesting a possible pullback. In summary, while the stock shows potential for upward movement, clear signals are essential for making informed trading decisions.