Techno Electric & Engineering Company Limited (TECHNOE) Stock - Complete Technical Analysis - Nov 12, 2024

Techno Electric Stock Analysis - Key Levels, Indicators & Potential Breakouts TECHONOE Technical

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. Techno Electric & Engineering Company Limited (TECHNOE) is currently trading at 1,550, which is 14.91% below its 52-week high and 160.44% above its 52-week low. Over the past five days, the stock has demonstrated moderate volatility, with daily price movements ranging from 1,526 to 1,616, signaling that it could be in a short-term consolidation phase.

In terms of technical indicators, the stock is not in an extreme zone, with the RSI sitting at 44.7 and ADX at 16.36, pointing to weak trend strength. The MACD is currently negative, suggesting a slight bearish trend. On the other hand, the Stochastic RSI indicates some potential for upward momentum, and the Awesome Oscillator is also positive, adding to the case for a potential rally if the stock breaks above resistance levels.

The stock's short-term moving averages, such as the 10-day and 20-day EMAs, are positioned slightly above the current price, indicating some downward pressure. However, the 200-day EMA is much lower, reflecting a long-term uptrend. This divergence between short-term and long-term trends suggests that while the stock may face some resistance in the short term, the overall trend remains bullish.

Regarding volatility, the ATR has been fluctuating around 40, indicating that traders should be prepared for significant price swings in either direction. For those looking to trade Techno Electric, the key levels to watch are 1,526 for support and 1,616 to 1,625 for resistance. A breakout above these levels could confirm a trend continuation, while failure to hold support could see the stock move lower.