ICRA Limited (ICRA) Stock - Complete Technical Analysis - Sep 10, 2024

ICRA Stock Analysis: Bullish Trend or Overbought Key Levels to Watch

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. ICRA Limited (ICRA) Technical Analysis

As of the latest data, ICRA Limited's stock price is 6,492, which is slightly below its 52-week high of 6,450. The stock is trading 30.26% above its 52-week low of 4,983.

Trend Analysis: The Average Directional Index (ADX) is indicating a strong trend, reflecting significant momentum. The stock is showing a high Relative Strength Index (RSI), suggesting it is in overbought territory, while the Stochastic %K is also in the overbought zone, reinforcing this view. The Stochastic RSI Fast is significantly high, further indicating overbought conditions.

Moving Averages: Short-term moving averages are higher than longer-term averages, with the stock trading above its 10-day, 20-day, and 50-day Exponential Moving Averages (EMA) as well as Simple Moving Averages (SMA). This bullish alignment suggests a strong upward trend. Notably, the 10-day EMA is at 6,188, while the 50-day EMA is at 5,904. The price is comfortably above these moving averages, reflecting a positive momentum.

Chart Patterns & Indicators: The Hull Moving Average is positioned higher than the current price, which might indicate a potential short-term resistance. The Commodity Channel Index (CCI) and Awesome Oscillator are both showing bullish trends. However, the Williams Percent Range indicates a potential reversal from overbought conditions.

Pivot Levels: Currently, the stock price is well above the Classic Pivot Point, suggesting a bullish sentiment. Support levels are observed around the Fibonacci and Camarilla support zones, while resistance can be seen near the Fibonacci and Woodie resistance levels.

Volatility: The Average True Range (ATR) indicates a high level of volatility, suggesting potential significant price swings. Traders should be prepared for potential fluctuations and adjust their strategies accordingly.

Overall, ICRA Limited's stock is exhibiting a strong bullish trend, but caution is advised due to the overbought conditions. Monitoring key support and resistance levels will be crucial for making informed trading decisions.