Monte Carlo Fashions Limited (MONTECARLO) Stock - Complete Technical Analysis - Nov 01, 2024

Monte Carlo Fashions Limited Stock Analysis: Key Levels & Insights for Traders

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. In our in-depth analysis of Monte Carlo Fashions Limited, we find that the stock, currently at 785, has experienced fluctuations recently, closing down from a high of 795. The presence of a Doji candle signifies indecision in the market, and recent trends show bearish momentum, indicated by a negative MACD. The RSI at 46.11 suggests a neutral stance, with the stock not yet oversold or overbought, while the Stochastic at 15.35 hints at a potential upward correction.

Analyzing the average directional index reveals a weak trend, with ADX at 17.86, while the ATR suggests moderate volatility. Key support is established at 762.20, as seen in recent lows, while resistance lies near 795, recently touched. A critical pivot point at 817.73 needs monitoring; breaking above this could trigger a bullish trend reversal. Alternatively, failure to maintain above support levels could lead to further declines. Traders should remain vigilant to these indicators for potential price movements and adjust their strategies accordingly.