Prudent Corporate Advisory Services Limited (PRUDENT) Stock - Complete Technical Analysis - Nov 22, 2024

Prudent Corporate Advisory Services Stock Analysis: Key Support, Resistance, and Trends for Trader

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.

Prudent Corporate Advisory Services (PRUDENT) is trading at 3,074, which is significantly off its 52-week high of 3,735.2. The stock has recently surged from a low of around 2,883, indicating a strong short-term trend. The key technical indicators reveal bullish momentum, with the Average Directional Index (ADX) suggesting a confirmed trend, and the MACD indicating upward movement.

However, indicators such as the RSI are sitting at neutral levels, while the Stochastic and Stochastic RSI show some overbought signals, implying that caution is advised at higher price levels. The stock's support levels appear around 2,900, and critical resistance lies around 3,200 and 3,700, marking recent highs. The price could test 2,900 again in the event of a downturn, while a breakout above 3,200 could lead to further gains.

Volatility remains moderate, according to the ATR, meaning price swings are likely but not extreme. The key to watch here is whether Prudent can break the resistance at 3,200 for potential uptrend continuation or if a reversal to 2,900 becomes more likely due to overbought conditions. Traders should look for further confirmation from price action and momentum indicators.