CIE Automotive India Limited (CIEINDIA) Stock - Complete Technical Analysis - Sep 06, 2024

CIE Automotive India (CIEINDIA) Stock Analysis: Key Support

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. For CIE Automotive India Limited (CIEINDIA), the technical analysis reveals a mixed yet insightful picture. Currently trading at 567.15, the stock is 8.88% below its 52-week high of 622.4 and 39.42% above its 52-week low of 406.8, indicating a strong upward trend over the past year.

The stock is facing resistance near the 200-day Exponential Moving Average (EMA) at 522.39, with significant resistance observed around the 50-day Simple Moving Average (SMA) at 578.68. Conversely, support levels are positioned near the Classic Pivot Support 1 at 538.58 and the 200-day EMA at 522.39.

In terms of technical indicators, the Average Directional Index (ADX) stands at 20.48, suggesting a weak trend strength. The Relative Strength Index (RSI) is currently at 47.34, which is neutral, indicating neither overbought nor oversold conditions. The MACD shows a positive signal with the line at 2.93, which is bullish. The Stochastic Oscillator indicates a moderately bullish trend with %K at 62.05 and the Stochastic RSI Fast at 48.0.

The stock's volatility is moderate, as indicated by the Average True Range (ATR), which ranges between 15.36 and 25.57. The presence of a Spinning Top pattern in today's candle, with an open at 570.6, high at 589.6, low at 561.35, and close at 567.15, reflects indecision in the market.

Other indicators such as the Commodity Channel Index (CCI) and Awesome Oscillator suggest a neutral to slightly bullish sentiment. The Hull Moving Average and Volume Weighted Moving Average are both indicating that the stock may encounter resistance at higher levels. The Ultimate Oscillator and Williams Percent Range also point to a balanced market condition.

Overall, while the stock has shown strong performance relative to its 52-week low, traders should watch for a potential test of the resistance levels and keep an eye on the support zones for any signs of a reversal or breakout.