CREDITACCESS GRAMEEN LIMITED (CREDITACC) Stock - Complete Technical Analysis - Nov 08, 2024

CREDITACCESS GRAMEEN STOCK ANALYSIS Key Support & Resistance Levels Technical Breakdown

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. CREDITACCESS GRAMEEN LIMITED (CREDITACC) is currently at 920.50, significantly lower than its 52-week high of 1796, reflecting a major downtrend from its peak. Despite this, it is close to its 52-week low, indicating potential support at 911-920. In terms of technicals, the stock shows bearish signals across several indicators. The MACD is negative, pointing to bearish momentum, while the RSI is in the oversold zone, suggesting possible short-term recovery but still facing downside risks.

The Average Directional Index (ADX) is quite high, indicating a strong trend, but with no clear directional bias. The CCI and Awesome Oscillator are also showing negative readings, adding to the bearish sentiment. EMAs confirm the downtrend, with the 10-day EMA at 958 and the 200-day EMA at 1269. This indicates a significant distance from the stocks current price, suggesting resistance levels remain much higher. However, the price is stabilizing near the 920 support zone, and a break above this level could lead to a short-term rebound towards resistance zones at 1000 and 1040.

Overall, CREDITACCESS GRAMEEN LIMITED is in a bearish phase. Traders should watch for any price action around the 920-911 support range, as a breakdown below this could accelerate the downside. On the other hand, any upward movement through 1000-1040 might signal a reversal in the short term. Stay cautious with a focus on volatility and trend direction.