Wendt (India) Limited (WENDT) Stock - Complete Technical Analysis - Oct 31, 2024

Wendt India Stock Technical Analysis Price Trends, Support & Resistance Levels

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. Wendt (India) Limited is currently facing bearish momentum as the stock price sits at 15,030, following a downtrend indicated by the recent formation of the Bearish Engulfing and Evening Star patterns. Today's trading saw the stock open at 15,320, reach a high of 15,321.95, and drop to a low of 14,987. This price action indicates heightened selling activity, and traders should keep an eye on key support at 14,987 and resistance at 15,321.

The P/E ratio of 74.7 reflects high expectations of future growth, while an ADX of 30.6 signifies a strong trend is underway. The RSI at nearly 50 indicates a neutral position, yet bearish sentiment is supported by a Stochastic RSI below 15, suggesting potential overbought conditions. A MACD reading of 79.06 confirms the downtrend, warranting caution for traders.

Volatility is apparent, highlighted by the ATR, which shows that the stock has a history of significant price movements. Watch for any sudden declines that could break support levels, while a rise above 15,321 could signal a shift back to bullish sentiment. Overall, Wendt's current technical picture calls for strategic monitoring and quick responsiveness to emerging trends.