Finolex Industries Limited (FINPIPE) Stock - Complete Technical Analysis - Sep 06, 2024

"Finolex Industries Technical Analysis Bullish Signals and Key Support

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.

Finolex Industries Limited (FINPIPE) is currently trading at 309.05. Here's a detailed technical analysis:

Support and Resistance Levels:

Support Levels: Key support levels to watch are around 282.17 and 252.48. These levels have historically acted as strong support.

Resistance Levels: Key resistance levels are near 334.62 and 357.38. Breaking through these levels could signal further upside.

Technical Indicators:

MACD: The MACD is positive, indicating bullish momentum.

RSI: The RSI is neutral, suggesting neither overbought nor oversold conditions.

ADX: The ADX value is moderate, showing a strengthening trend but not extremely strong.

Stochastic Oscillator: The Stochastic %K is in the mid-range, indicating that the stock is neither overbought nor oversold.

Commodity Channel Index (CCI): The CCI is high, signaling that the stock is currently in a strong trend.

Williams %R: This indicator is in the negative zone, suggesting the stock could be in a bearish phase.

Awesome Oscillator: The Awesome Oscillator is positive, supporting a bullish trend.

Moving Averages:

Short-Term: The stock is above its short-term moving averages (10, 20, 30, 50-day), suggesting a bullish trend.

Long-Term: The stock is also above its longer-term moving averages (100, 200-day), which indicates a strong overall uptrend.

Chart Patterns:

A Bullish Harami pattern has been observed, which is typically a signal of a potential reversal to the upside.

Volatility and ATR:

The ATR values indicate increasing volatility, suggesting that traders should be prepared for significant price swings.

Additional Observations:

The stock is trading approximately 13.16% below its 52-week high, suggesting it may have room to recover.

It is 66.33% above its 52-week low, indicating strong upward movement from the lows.

Recent Inside Candle Pattern:

An inside candle pattern was found recently, which indicates consolidation and potential for breakout either to the upside or downside.

In summary, FINPIPE shows a bullish trend supported by positive MACD and moving averages, but traders should watch for potential resistance levels and be aware of the increasing volatility.