Campus Activewear Limited (CAMPUS) Stock - Complete Technical Analysis - Nov 13, 2024

Campus Activewear Technical Analysis Price Drop & Key Levels to Watch Nov 2024

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. Detailed Technical Breakdown of Campus Activewear (CAMPUS)

Campus Activewear (CAMPUS) is currently at a critical juncture. The stock price is trading at 279.90, down from the 52-week high of 371.9, reflecting a 24.74% drop. However, it remains up 31.41% from its 52-week low of 213.0. Recently, the stock experienced substantial intraday swings, indicating high volatility, which traders must keep an eye on. For instance, the stock opened at 290 on Nov 13, surged to 295.65, but closed lower at 279.90, highlighting potential pressure from sellers.

The RSI, positioned at 38.8, suggests that the stock is not yet oversold but could soon be. Meanwhile, the MACD indicator shows bearish momentum, and the Awesome Oscillator is also in the negative territory, suggesting continued selling pressure. The commodity channel index (CCI) at -88 signals that the stock is trading in an oversold region, which could mean a potential reversal in the near future if buying interest returns.

In terms of chart patterns, the stock has recently formed lower highs and lower lows, which is indicative of a bearish trend. On the positive side, the stock has found support near the classic pivot level of 265.77 and is currently testing these levels. If the price falls below this, it may retest deeper support levels.

Looking at the moving averages, the stock is trading below the 10-day, 20-day, and 50-day EMAs, indicating short-term weakness. The 200-day EMA, however, is still sloping upwards, which suggests that the long-term trend could still be bullish if the stock can manage to hold above this level. Resistance lies around the classic pivot P at 306.23, and if the stock can breach this level, it might signal a reversal towards the 52-week high.

In conclusion, for traders looking to enter or exit positions, keep an eye on the support levels, particularly at 265.77. If the stock bounces from here, it may provide a solid buying opportunity. However, failure to hold support may lead to further declines. As always, monitor key technical indicators like RSI and MACD for confirmation of the price direction.