Whirlpool of India Limited (WHIRLPOOL) Stock - Complete Technical Analysis - Sep 06, 2024

Whirlpool Stock Technical 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. Let's dive into the technical analysis for Whirlpool of India Limited, ticker WHIRLPOOL. Currently trading at 2,224, the stock is just slightly below its 52-week high of 2,248, showing a strong performance but also indicating potential resistance at this level. On the downside, the stock is trading 87.54% above its 52-week low, highlighting a robust uptrend over the past year.

The average directional index (ADX) is currently high, suggesting a strong trend, while the relative strength index (RSI) is near the overbought zone, indicating the stock might be due for a consolidation or pullback. The stochastic indicators and stochastic RSI confirm that the stock is in the overbought range, which supports the notion of a potential short-term correction.

The moving averages paint a mixed picture. The stock is trading above its short-term exponential and simple moving averages, indicating bullish momentum. However, it is also approaching the higher end of its trading range, which could act as a resistance zone. The exponential moving average (EMA) and simple moving average (SMA) crossovers suggest support around the 2,100 level and resistance around 2,290.

The presence of an Evening Star pattern suggests a potential bearish reversal, indicating that the stock might face selling pressure in the near term. Additionally, the Inside Candle pattern observed recently could imply a period of consolidation or indecision before a significant move.

Technical indicators like the MACD and Awesome Oscillator are showing strong bullish signals, but traders should watch for any signs of weakening momentum. The average true range (ATR) suggests that volatility is relatively high, so be prepared for potential price swings.

In summary, while WHIRLPOOL shows strong long-term performance and bullish indicators, short-term traders should be cautious of potential resistance levels and watch for any reversal signals. Adjusting positions based on these indicators could help in managing risk and optimizing returns.