JK Paper Limited (JKPAPER) Stock - Complete Technical Analysis - Nov 14, 2024

"JK Paper Technical Analysis - Key Support, Resistance & Trends (November 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.

Technical Analysis for JK Paper Limited (JKPAPER)

At the current trading price of 397.20, JK Paper Limited has witnessed a substantial drop from its 52-week high of 638.75, and its currently trading 24.48% above the 52-week low. The stock shows some weakness in recent days, experiencing downward pressure with a low of 395.30, signaling that investors are testing support levels.

In terms of the chart, JK Paper is struggling to find support after a prolonged downtrend. Recent prices suggest a consolidation phase with no significant signs of reversal yet. The Average Directional Index (ADX) stands at 28.54, confirming a moderate trend strength but not indicating a strong bullish reversal. However, the RSI is sitting below the oversold threshold, signaling that the stock could be due for a short-term bounce.

The Stochastic RSI and MACD both point to bearish signals, suggesting continued selling pressure. Despite this, its essential to monitor the support around 395.30, as it might hold and provide a buying opportunity if there is a price rebound. Resistance remains in the range of 410-420, and breaking above this could trigger a short-term rally. However, if the support breaks down, further downside to 383.88 could be in play.

From a volatility standpoint, the stock has an ATR in the range of 50 to 80, indicating that the price can fluctuate significantly, providing opportunities for day traders or those looking to capitalize on volatility.

Quick Summary:

Price under pressure with support at 395.30.

Moderate bearish sentiment, but an oversold RSI may suggest a potential reversal.

Key resistance near 410-420 and further downside risk if 395 breaks.