Crompton Greaves Consumer Electricals Limited (CROMPTON) Stock - Complete Technical Analysis - Nov 21, 2024

Crompton Greaves Stock Analysis Key Support & Resistance Levels for Traders 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. Crompton Greaves Consumer Electricals Limited (CROMPTON) is facing a challenging short-term outlook, with its price hovering near the support zone. Trading at 382, the stock is approximately 21% below its 52-week high, indicating that it has recently pulled back from its peak. However, it's still maintaining a strong position above its 52-week low, reflecting investor optimism over the medium term.

Technically, the stock has been showing some weakness in its short-term momentum. The Relative Strength Index (RSI) of 41.1 suggests that the stock is in the neutral zone, with some potential for upward movement if it finds support at current levels. However, the MACD's bearish crossover indicates downward pressure, which may drive the stock lower in the near term. The Commodity Channel Index (CCI) is also in the negative zone, confirming the lack of strong buying momentum.

Looking at moving averages, the stock is trading below its short-term EMAs, such as the 10 and 20-day EMAs, indicating a bearish trend. However, the 50-day and 200-day EMAs provide significant support, with the 200-day EMA acting as a major long-term support level around 388. The stock's price is currently testing this support level, making it a crucial point for traders to monitor.

For the stock to turn bullish, it needs to break and hold above the 406 level, where it faces resistance. If the price stabilizes above the 200-day EMA, it could potentially signal a trend reversal. Traders should closely monitor price action and wait for confirmation before entering long positions. Short-term traders should also keep an eye on volatility, as indicated by the ATR, for potential price swings.