MPS Limited (MPSLTD) Stock - Complete Technical Analysis - Oct 31, 2024

MPS Limited Technical Analysis: Key Levels to Watch in 2024

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.

MPS Limited (MPSLTD) is exhibiting a complex technical picture as it trades at 2,146. This price is 13.09% off its recent 52-week high of 2,469 and 51.53% above its low of 1,416.05. The recent trading behavior shows volatility, with the last five sessions presenting a high of 2,331 and a low of 2,001. The average directional index (ADX) suggests a weak trend, while the relative strength index (RSI) remains neutral, reflecting a balanced sentiment.

Immediate support can be observed around 2,125, while resistance is positioned near 2,185. The positive MACD signals possible bullish momentum, although the momentum indicator's negative reading suggests caution. The classic pivot points indicate a critical threshold; moving above could open doors for further gains, while slipping below may prompt reevaluation of positions.

Fundamentally, with an impressive ROCE of 39% and a dividend yield of 3.50%, MPSLTD holds a strong basis despite the price fluctuations. Traders should focus on these key levels and be prepared for potential rapid price changes due to volatility, ensuring they adapt their strategies accordingly.