REC Limited (RECLTD) Stock - Complete Technical Analysis - Nov 18, 2024

REC Limited Technical Analysis Key Levels, Trend & Indicators Partha Kuchana - Finance

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. REC Limited (RECLTD) is showing signs of indecision with the recent spinning top candlestick pattern. Currently, the stock is 23% below its 52-week high, reflecting a cooling off after a recent peak. The stock is trading below key moving averages, signaling bearish pressure in the short term. The RSI is at 40, indicating a neutral-to-bearish momentum, while the MACD remains below the zero line, confirming a lack of bullish strength.

Looking at the key price levels, traders should watch for potential resistance around 520-530, with strong support near 495. The stock has been experiencing significant volatility, as indicated by the ATR, meaning swings in price are common. A breakout above 530 or a fall below 495 could lead to clearer price direction. The ADX at 29.54 suggests the trend could gain strength, so caution is necessary until a more defined trend emerges.