Clean Science and Technology Limited (CLEAN) Stock - Complete Technical Analysis - Nov 21, 2024

Clean Science & Technology Stock Analysis - Is it Time to Buy or Sell Detailed Technical Review

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. Clean Science and Technology Limited (CLEAN) is currently trading at 1,277, showing a substantial 24.43% drop from its 52-week high of 1,690 and a modest 2.74% increase from its 52-week low of 1,243. This price movement reflects a correction phase, with the stock falling below key moving averages like the 10-day and 50-day EMAs, signaling a bearish trend in the short term.

A bearish engulfing pattern has appeared recently, supporting the negative sentiment. The RSI is below 30, suggesting that the stock is oversold, and may experience a potential bounce. However, the low ADX level implies that the current trend lacks strong momentum, and traders should prepare for possible sideways or volatile price action.

The MACD remains negative, indicating bearish momentum, and the CCI is well below zero, reinforcing the weak trend. The key support levels are at 1,268 and 1,243, with the 52-week low providing additional support. Traders should be aware of resistance at 1,332, which has been difficult for the stock to surpass recently.

With ATR showing higher volatility, short-term traders can look for price swings to capitalize on, but caution is advised due to the overall bearish trend. Although the stock could rebound in the short term, confirmation of a trend reversal is necessary before entering long positions.

In summary, Clean Science and Technology Limited is at a critical point, and while oversold conditions may signal a potential bounce, the stock is under considerable bearish pressure. Investors should watch for a clear reversal signal before considering any long positions.