Redington Limited (REDINGTON) Stock - Complete Technical Analysis - Sep 06, 2024

Redington Limited Stock Analysis Key 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. Redington Limited (REDINGTON) is currently trading at 199, significantly below its 52-week high of 237.55, indicating a potential for price recovery if bullish momentum picks up. The stock is also trading well above its 52-week low of 136.2, suggesting a positive long-term trend. Analyzing technical indicators, the Average Directional Index (ADX) is relatively low, signaling weak trend strength. The Relative Strength Index (RSI) is below the neutral 50 mark, indicating that the stock might be in a bearish phase, though not yet oversold. The Stochastic Oscillator and Stochastic RSI are at extreme lows, suggesting that the stock could be oversold and might experience a reversal soon. The MACD line is below the signal line, which is typically bearish, but its worth watching for any crossover for a possible buy signal. The stocks price is also below most of its exponential and simple moving averages, indicating a bearish trend. Key support levels to watch are around 188.93 and 176.02, while resistance levels are seen near 213.38 and 224.92. The ATR (Average True Range) suggests a moderate level of volatility, so traders should be cautious of price swings. Overall, REDINGTON appears to be in a consolidation phase with potential for rebound if it can break through resistance levels. Keep an eye on these indicators for potential buying opportunities or trend reversals.