Hindustan Construction Company Limited (HCC) Stock - Complete Technical Analysis - Sep 10, 2024

Hindustan Construction Company (HCC) Stock Analysis Technical Insights & Key Levels

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. In today's analysis of Hindustan Construction Company Limited (HCC), the stock is trading at 46.08, which is 19.86% below its 52-week high of 57.5 and 105.26% above its 52-week low of 22.45.

Starting with the technical indicators, the Average Directional Index (ADX) is low at 10.51, suggesting a weak trend. The Relative Strength Index (RSI) is at 44.14, indicating that the stock is in a neutral zone, neither overbought nor oversold. The Stochastic %K is quite low at 13.95, signaling that the stock may be oversold. Similarly, the Stochastic RSI is at 15.59, which also points to an oversold condition.

The MACD is negative at -0.74, reflecting a bearish sentiment. The Momentum indicator is at -1.66, showing a declining trend. The Commodity Channel Index (CCI) is deeply negative at -111.12, which confirms an oversold market condition. The Awesome Oscillator is at -2.65, indicating weak bullish momentum. The Williams Percent Range is very low at -78.98, supporting the oversold signal. The Bull Bear Power is also negative at -1.72, reinforcing the bearish trend.

On the moving averages front, the stock is below the Exponential Moving Averages (EMAs) for 10, 20, 30, and 50 periods but above the 100 and 200-period EMAs. This positioning suggests a bearish short-term trend but a stronger long-term outlook. The Simple Moving Averages (SMAs) follow a similar pattern, with the stock trading below the SMAs for 10, 20, 30, and 50 periods but above the longer-term SMAs. The Ichimoku Base Line is at 47.96, adding to the bearish sentiment in the short term.

Regarding the chart pattern, a Bullish Harami pattern is observed, which might suggest a potential reversal or bounce from the current levels.

Given the technical indicators, the current support levels are around 43.15 and 39.1, while resistance levels are near 53.64 and 60.08. The stock's recent trading action and indicators imply that it could face resistance at these higher levels while finding support near the lower levels.

Overall, HCC shows a mixed technical picture with short-term bearish signals and potential for a reversal based on the Bullish Harami pattern. Traders should watch for confirmation of a trend reversal or further decline before making significant moves.