Power Finance Corporation Limited (PFC) Stock - Complete Technical Analysis - Nov 18, 2024

Power Finance Corporation PFC Stock Analysis: Key Support & Resistance Levels to Watch 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. Power Finance Corporation Limited (PFC) is experiencing some indecision in the market as seen in the Spinning Top candlestick pattern on November 18, 2024, at 459.20. With a current price about 20.83% below its 52-week high, PFC is undergoing some price consolidation, and the technical indicators reflect mixed signals. The RSI is at 47.91, showing that the stock is in neutral territory, while the MACD remains in negative territory, indicating a potential bearish momentum in the near term.

On the positive side, the Average Directional Index (ADX) suggests a strong trend, which means there could be a directional move once the indecision clears. The stock is still above the 200-day Exponential Moving Average (EMA), which is a key long-term support level. In the short term, it's trading below the 10, 20, and 30-day EMAs, indicating some downward pressure.

Support levels are seen around 450, and should the stock break below this level, it could head lower to the 419 zone. Resistance lies near the 462 level, and a breakout above it could indicate a short-term bullish trend. Given the current volatility, especially with the ATR showing high volatility, traders need to be mindful of sudden price swings. A confirmation of a reversal or breakout above resistance would be ideal for initiating positions.