ABB India Limited (ABB) Stock - Complete Technical Analysis - Nov 05, 2024

Detailed Technical Analysis of ABB India Limited Stock

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. ABB India Limited's stock analysis reveals a trading price of 7,132.85, significantly lower than its 52-week high of 9,149.95, suggesting the existence of resistance. Currently, the stock is showing a 22.04% decline from this high while trading 72.24% above the 52-week low of 4,141.3.

Recent trends indicate volatility, especially with today's open at 7,400.95, followed by a drop to a low of 6,935.00, which could serve as a critical support level. With the MACD indicating a bearish trend, traders should exercise caution. Notably, the RSI is hovering near oversold territory, hinting at a possible reversal, while the ADX indicates a strong trend, advising caution until a clear signal emerges.

Watch for key price levels: the support at approximately 6,935.00 and resistance near 7,500.00. A breakout above the resistance could indicate a bullish trend, while a drop below support may lead to further declines. Traders are advised to seek additional confirmation from other indicators before making moves.