Power Finance Corporation Limited (PFC) Stock - Complete Technical Analysis - Nov 05, 2024

Power Finance Corporation: Bullish Signals & Key Levels to Watch

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-depth analysis of Power Finance Corporation Limited (PFC) reveals that the current price of 461.50 is positioned significantly below its 52-week high, suggesting room for upside potential. The recent formation of a morning star and a piercing pattern indicates bullish reversal signals, giving traders an optimistic outlook.

Despite the stock's recent price drops, the ADX indicates a strong trend, while the RSI shows neutrality, suggesting that the stock is not in overbought or oversold territory. The MACD, however, is negative, warranting caution.

Price action analysis reveals sudden volatility, with notable fluctuations over the past few days. Support can be found at the classic pivot point of 462.18 and further down at 419.32, while resistance is seen around 464.85 and the upper pivot at 497.82.

Traders should watch for movements around these critical levels. A break above 464.85 may signal a bullish trend continuation, while a breach below 450.00 could indicate a bearish reversal. The increasing ATR suggests heightened market volatility, necessitating robust risk management strategies.