Nazara Technologies Limited (NAZARA) Stock - Complete Technical Analysis - Oct 28, 2024

Nazara Technologies Stock Analysis: Key Levels & Insights for Traders

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. Nazara Technologies Limited is currently priced at 910, showcasing a mixed technical landscape. After a substantial surge to a high of 918 today, the stock seems to be stabilizing, indicated by recent bullish patterns such as the bullish engulfing and morning star formations.

Immediate support appears at 891, correlating with Classic Pivot S1, and resistance is positioned around 1004 based on Classic Pivot calculations. The stock is trading 18.56% below its 52-week peak of 1117 and 53.80% above its low of 591.

The ADX value indicates a robust trend, while the RSI reading suggests neutrality, providing potential for movement in either direction. The Stochastic oscillator's low reading hints at an oversold condition, potentially priming the stock for a rebound.

Short-term bearish sentiment is illustrated through the position of the stock relative to the EMAs, with current prices below the 10-day and 20-day EMAs. Negative figures in the Awesome Oscillator and MACD reinforce weak market momentum.

Given the current volatility indicated by the ATR, traders should remain vigilant. Overall, a bounce near the 891 support level seems plausible, with a keen eye on the resistance at 1004 for the next actionable trading opportunities.