Marine Electricals (India) Limited (MARINE) Stock - Complete Technical Analysis - Nov 01, 2024

Marine Electricals (India) Stock Technical Analysis Key Levels & Indicators Explained

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 detailed technical analysis of Marine Electricals (India) Limited, currently trading at 229, we note a robust Marubozu candle pattern reflecting strong momentum. The stock is 25.80% below its 52-week high of 308, while showcasing a substantial recovery of over 206% from its 52-week low of 74.55, indicating significant volatility.

Support levels are clearly defined around 217, with resistance expected near 247. The MACD reading suggests ongoing consolidation, despite the bullish trend indicated by the candlestick pattern. The Average Directional Index above 30 confirms the strength of the current trend, while the RSI near 54 suggests a balanced outlook, leaving room for potential upward movement.

Volatility is marked by the Average True Range, suggesting potential for significant price swings, which traders can exploit. The Stochastic indicators are favoring bullish movement, and keeping an eye on these technicals will be crucial for identifying optimal entry and exit strategies for traders looking to engage with MARINE stock.