Filatex India Limited (FILATEX) Stock - Complete Technical Analysis - Nov 26, 2024

Filatex India Limited Stock Analysis: Price Action, Support & Resistance Levels (Nov 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. Filatex India Limited (FILATEX) stock has been showing resilience, with a current price of 64.65, which is close to its mid-range between the 52-week high of 78 and low of 44.95. Recently, the stock has been fluctuating, testing support at 62.50 and resistance at 66.30. These fluctuations suggest volatility and possible reversals. The stock's momentum indicators, like the MACD and Awesome Oscillator, suggest a bullish outlook, while the RSI remains neutral, indicating that the stock could either continue its upward move or experience a pullback.

The ADX at 30.86 signals that the stock is trending strongly, and the CCI supports this by indicating bullish conditions. The recent price drop on Nov-25 to 62.50, followed by a quick recovery, highlights the stock's volatility and possible trend reversal. The moving averages, both simple and exponential, are indicating support around the 62.50-63.00 range, with resistance above 66. Traders should watch for a breakout above 66, which could signal a move towards the upper resistance levels.

For investors looking for trading opportunities, key levels to watch include 62.50 for support and 66-67 for resistance. The ATR suggests that the stock is volatile, so caution is advised when trading around these levels. Investors could look for potential entry points on dips near 63.00-62.50, with an exit strategy if the stock breaks above 66, targeting the 70-72 range.