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.
NIACL is currently trading at 197.83, approximately 39% below its 52-week high, indicating sustained bearish pressure. The RSI is nearing oversold levels, which could signal a potential reversal, though MACD and Awesome Oscillator suggest that the downside momentum is still present. The ADX shows that the trend lacks strength, while the stock continues to struggle against key moving averages like the 50- and 100-day EMAs. A Bullish Harami pattern formed recently, indicating a possible trend reversal if further confirmed. The support level is around 190, with strong resistance around 215. Traders should monitor market volatility and volume for clearer entry points, especially in case of a breakout above 215.
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