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SMC Global Securities Limited (SMCGLOBAL) Stock - Complete Technical Analysis - Nov 01, 2024

SMC Global Securities Technical Analysis: Will the Bullish Harami Signal a Trend Reversal

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. Currently trading at 143.57, SMC Global Securities Limited has dropped 21.55% from its 52-week high of 183.0 on June 10, 2024, while being 67.82% above its low of 85.55 on November 1, 2023. The recent formation of a Bullish Harami indicates a potential upward reversal in price trend. The RSI at 42.74 suggests the stock is nearing oversold conditions, which may present a buying opportunity.

Volatility remains moderate with an ATR of 11.11, and the ADX at 24.99 implies that a trend is in development but lacks strength. Immediate support can be found at 126.12, with resistance identified around 162.27. Notable fluctuations include a significant drop on October 28, dropping from 147.30 to 137.45, followed by rebounds. Traders should watch for price action around 144.57 to determine potential breakouts or further declines.





 

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