REC Limited (RECLTD) Stock - Complete Technical Analysis - Nov 05, 2024

REC Limited Technical Analysis: Key Support & Resistance Insights for Traders

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. REC Limited is currently trading at 526, reflecting a significant swing from its 52-week high of 654 reached on July 12, 2024, and is still 75.04% above its 52-week low of 300.5 recorded on November 6, 2023. Analyzing the recent price action reveals a piercing pattern, hinting at potential bullish reversals despite the overall bearish trend. The stock's recent fluctuations, peaking at 528.65 and dipping to 499.60, exhibit notable volatility.

With the ADX at nearly 30, the trend remains strong; however, the RSI and Stochastic indicators hovering around 47 and 46, respectively, suggest a balanced momentum with no immediate overbought or oversold conditions. The MACD also indicates a bearish crossover, cautioning bullish positions. Key support sits at the classic pivot level of 525 and significant resistance at 566.67. The Awesome Oscillator shows bearish momentum, while the Williams Percent Range points to neutral conditions. Overall, while REC Limited demonstrates volatility, maintaining above the pivot support could provide a strategic entry point for traders, particularly if confirmed with strength in subsequent sessions.