Creative Newtech Limited (CREATIVE) Stock - Complete Technical Analysis - Nov 01, 2024

In-Depth Technical Analysis of Creative Newtech Limited (CREATIVE) Stock Key Levels & Trends

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. Creative Newtech Limited (CREATIVE) presents an intriguing case for traders with its current trading price of 892.50. This stock is on a robust trajectory, having surged 63.13% from its 52-week low of 547.1, while still sitting 10.27% below its recent peak of 994.7. In the last week, weve seen notable price swings, particularly on October 31, when it opened at 840, reached a high of 889, and closed at 881.75. This volatility hints at strong buying interest, particularly with the stock closing higher on November 1, at 892.50.

Analyzing support and resistance levels, immediate support can be seen at the recent low of 840, with resistance forming at 899. The Classic Pivot Point at 874.28 provides an essential guide for traders, helping to strategize entry and exit points effectively.

Technical indicators further enhance this outlook. The MACD shows bullish signals, while the RSI is positioned at 62.54, suggesting that the stock is nearing overbought conditions yet still retains potential for upward movement. The ADX value of 22.51 indicates that we may be seeing the early stages of a trend.

Volatility analysis via the ATR reveals moderate price movements, making CREATIVE an engaging candidate for both active traders and longer-term investors. Watch for key price levels and manage risk accordinglyif the stock breaks the 899 resistance level, it could open the door for further gains, while a drop below 840 could signal a change in trend direction.