Time Technoplast Limited (TIMETECHNO) Stock - Complete Technical Analysis - Nov 22, 2024

Time Technoplast Limited Stock Analysis Key Support & Resistance Levels November 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. Time Technoplast Limited (TIMETECHNO) is trading at 391.05, just 17.5% lower than its 52-week high, reflecting some downward pressure in the stock price. In recent trading, the stock has exhibited significant movement, with the price reaching a high of 393.15 on November 22, but it is still well below its 52-week high of 474. Despite this, the stock has surged more than 140% from its 52-week low of 161.75.

From a technical perspective, the stock appears to be consolidating, with a mixture of bullish and bearish indicators. The RSI, at 47.49, indicates neutral momentum, while the MACD is showing a negative reading, suggesting potential bearish pressure. Short-term moving averages are sitting around 387, and longer-term averages around 395-400, indicating a resistance level that could cap upside movement.

The ADX, measuring trend strength, is relatively low at 14.25, showing a lack of strong directional momentum. The Stochastic Oscillator, however, is pointing toward oversold conditions, suggesting a possible rebound. The Average True Range (ATR) remains moderate, pointing to consistent but not extreme volatility in the stock. Price levels to watch are the support range of 362-368, with resistance around 395-400.

With these technical signals, traders should be cautious and look for a confirmation of trend reversal before committing to positions. A breakout above 400 may signal a new rally, but a sustained drop below 362 could indicate more downside.