Satin Creditcare Network Limited (SATIN) Stock - Complete Technical Analysis - Oct 31, 2024

Will SATIN Bounce Back Key Levels and Indicators Explained

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. At 162, Satin Creditcare Network Limited is trading below its 52-week peak, showing a 42.81% dip from its January high of 283.55. However, it's positioned 7.9% above its recent low, hinting at potential stabilization. Current trend analysis, with an ADX at 38.32, indicates a strong directional trend, though RSI at 34.39 suggests oversold conditions, potentially inviting buyers. A negative MACD and Stochastic reading of 19.22 reinforce recent bearish sentiment but also suggest that downside momentum could soon ease.

Moving averages are key here; SATIN is below the EMA and SMA across multiple timeframes, particularly the 200-day SMA, which serves as a major resistance at 223. Given the price has held above 150 support, traders might look for any upward breach of the 188 resistance as a signal of recovery. The Spinning Top candlestick signals indecision, aligning with the low ATR, pointing to reduced volatility. If bullish momentum returns, price targets include the EMA-50 at 188, and then possibly a retest of the 200 SMA at 223.