Raymond Limited (RAYMOND) Stock - Complete Technical Analysis - Sep 06, 2024

Raymond Limited Stock Analysis: Key Support, Resistance

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. Raymond Limited (RAYMOND) is currently trading at 1,999, significantly below its 52-week high of 3,496 but 34% above its 52-week low of 1,488. The stock's technical indicators show a mixed picture. The Average Directional Index (ADX) at 22.78 suggests a weak trend, while the Relative Strength Index (RSI) of 52.24 indicates that the stock is neither overbought nor oversold. The MACD is positive, reflecting bullish momentum, though the Awesome Oscillator also supports a positive short-term trend. The Stochastic %K and Stochastic RSI readings indicate that the stock is in a neutral to bullish phase. Moving averages show a bullish crossover with the price above the 10-day and 20-day exponential moving averages, yet below the longer-term averages like the 100-day and 200-day EMAs, suggesting mixed long-term sentiment. Support levels are likely around the 1,819 mark, while resistance might be encountered near the 2,150 level, based on classic pivot points. The Hull Moving Average and Volume Weighted Moving Average are above the current price, indicating potential resistance. The Average True Range (ATR) is relatively high, reflecting significant price volatility. For traders, its crucial to watch these levels and indicators to gauge future movements and manage risk effectively.