GMM Pfaudler Limited (GMMPFAUDLR) Stock - Complete Technical Analysis - Nov 22, 2024

GMM Pfaudler Limited (GMMPFAUDLR) Stock Analysis: Key Support, Resistance & Trading Insights

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. GMM Pfaudler Limited (GMMPFAUDLR) is currently facing significant volatility, with its price at 1204.35, down by 27.6% from its 52-week high and just 5.36% above the 52-week low. A spinning top candlestick pattern suggests market indecision, following a bullish harami pattern from the previous session.

From a technical standpoint, the stock's RSI is at 21.6, indicating oversold conditions, with potential for a short-term price rebound. The Stochastic RSI is at 2.84, reinforcing the possibility of upward momentum. The MACD shows a bearish signal but with weakening downward momentum, which could hint at a trend reversal soon.

Looking at key levels, the stock has support near the 1191-1195 range, while resistance is seen around 1240. The short-term moving averages are offering support, while the stock remains below the longer-term EMAs, indicating a general bearish trend.

Traders should keep an eye on the key support levels for potential buying opportunities, and if the stock breaks 1240, it could signal a move towards higher levels. Be cautious about a downside break below 1190, which could open the door for further declines.