Hindustan Construction Company Limited (HCC) Stock - Complete Technical Analysis - Nov 22, 2024

Hindustan Construction Company (HCC) Stock Technical Analysis Support, Resistance, & Indicators f

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. For Hindustan Construction Company Limited (HCC), the stock price is currently at 36.1, which is significantly below its 52-week high of 57.5, reflecting bearish sentiment. It is, however, above its 52-week low of 26.63, suggesting a potential for price recovery, though the stock remains in a volatile range.

The Average Directional Index (ADX) at 29.19 indicates a moderately strong trend, but the Relative Strength Index (RSI) of 39.7 suggests oversold conditions, hinting at a possible price reversal. The Stochastic indicators further confirm this, as they point to oversold conditions. MACD at -1.46 indicates a bearish trend, but it could show signs of reversal if the stock crosses above the signal line.

The key support level is around 35.36, with resistance at 37.10, which the stock has struggled to break. The stock is below its key moving averages, which points to a bearish bias. A move above 37.10 could signal a potential upward momentum, with the next key resistance levels at 39.08 and 40.31. Traders should monitor these levels for potential breakout or breakdown opportunities. Short-term traders may look for reversals near support, while long-term investors should be cautious of the stock's current downward trend.