Network18 Media & Investments Limited (NETWORK18) Stock - Complete Technical Analysis - Nov 12, 2024

Network18 Media & Investments Stock Analysis: Key Support, Resistance & Trend Signals

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.

Network18 Media & Investments stock is in a consolidation phase, trading at 81.72, with mixed technical indicators pointing to a lack of strong trend direction. The stock is nearly 40% below its 52-week high and shows weak trend strength, as indicated by the ADX reading of 12.51, which implies limited momentum in either direction. The bullish harami pattern on recent days suggests potential reversal signs, though further confirmation is needed.

Momentum indicators like MACD and RSI are neutral, with MACD near the zero level and RSI close to 48.77, indicating the stock is neither overbought nor oversold. The Awesome Oscillator and Stochastic indicators also show limited momentum, pointing toward a sideways or range-bound price movement. Moving averages place resistance above the current price, notably with the 50-day and 100-day EMAs at 83.55 and 85.32, acting as potential overhead hurdles.

The average true range (ATR) around 10 suggests moderate daily price swings, with key support and resistance levels at the 80-82 range for support and around 83-85 as resistance. A break above 85 could signal renewed upward momentum, whereas a drop below 80 may trigger further bearish sentiment. Traders should keep a close eye on these levels and monitor for a clear trend breakout.