Dish TV India Limited (DISHTV) Stock - Complete Technical Analysis - Oct 29, 2024

Dish TV India Technical Analysis: Is a Reversal Coming DISHTV Stock Insights

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. Detailed Technical Analysis for DISHTV Stock

Currently trading at 12.4, Dish TV's stock price reveals a steep decline of over 52% from its yearly high of 26.05, hit in February 2024. The proximity to its 52-week low of 12.17, just 2.30% above, raises concerns about bearish momentum, highlighting the stock's vulnerability.

In recent trading sessions, price actions have showcased volatility, with significant fluctuations between 12.17 and 12.64. The recent closing at 12.45, alongside lower lows and highs in the previous days, indicates possible support at 12.34 and resistance near 12.93.

Technical indicators present a mixed picture. The MACD is negative, indicating prevailing bearish trends, while the RSI's position at 32 hints at oversold conditions, potentially foreshadowing a reversal. The Stochastic %K and Williams Percent Range further emphasize the oversold status, which may prompt a bounce back if buying interest emerges.

The ADX value of 27.5 signifies a strong trend, albeit in the downward direction, cautioning traders about the possibility of ongoing declines. The ATR at 3.06 points to increased volatility, suggesting traders remain vigilant of price swings.

In conclusion, the current market landscape for DISHTV suggests traders should monitor for a break above resistance at 12.93 for potential bullish movements, or watch for support levels around 12.34 to gauge the likelihood of further declines. Its essential to stay informed of volume patterns to confirm any shifts in trend direction.