Thomas Cook (India) Limited (THOMASCOOK) Stock - Complete Technical Analysis - Nov 22, 2024

Thomas Cook India (THOMASCOOK) Stock Analysis: Key Support, Resistance & Price Action Insight

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. Thomas Cook India Limited (THOMASCOOK) is currently trading at 197.90, showing a strong recovery from its 52-week low of 134.70, yet trading 25% below its 52-week high. Over the past few days, the stock has been volatile, bouncing between highs and lows. On November 22nd, a spinning top candle formed, signaling indecision and a possible price reversal or consolidation.

Technically, the stock has shown both bullish and neutral signals. The MACD has been positive, suggesting bullish momentum, but the Average Directional Index (ADX) is relatively low, indicating that the stock lacks a clear trend. The Relative Strength Index (RSI) is near neutral, not signaling an overbought or oversold condition. This indicates that there could be a range-bound scenario for the stock in the near term.

The key support level is around 195, and if the stock breaks below this, the next support is around 178. The immediate resistance lies near 202, and a break above this could lead to a further upward move towards 225. Traders should wait for confirmation signals before taking significant positions, especially given the mixed technical indicators.

Investors looking for an entry point may want to consider buying on a breakout above the 202 mark or waiting for a bounce off the 195 support level. Watch the volume closely to gauge the strength of any potential breakout or reversal.