Prudent Corporate Advisory Services Limited (PRUDENT) Stock - Complete Technical Analysis - Sep 10, 2024

Prudent Corporate Advisory Services Analysis: Key Support & Resistance Levels for September 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. Prudent Corporate Advisory Services Limited is trading at 2,398, which places it about 12.21% below its 52-week high of 2,737.7 reached on August 14, 2024, and approximately 123.44% above its 52-week low of 1,075.6 from October 3, 2023.

Resistance for the stock is situated around the 2,420 to 2,440 range, where the Exponential and Simple Moving Averages, along with various pivot points, align. A breakout above this zone could lead the stock to test higher resistance levels near 2,750 and 3,065, indicating a potential uptrend continuation.

On the downside, support is seen around the 2,376 to 2,400 range. This level is crucial as it corresponds with several moving averages and pivot points. A decline below this support could lead to further weakness, with additional support around the 2,300 to 2,350 range.

Technical indicators show a mixed picture. The MACD suggests bullish momentum, while the RSI indicates the stock is near neutral territory, neither overbought nor oversold. The Stochastic and Commodity Channel Index point to bearish tendencies, suggesting a cautious approach. Additionally, the Awesome Oscillator is indicating positive momentum, but the Momentum and Williams Percent Range are signaling potential weaknesses.

Overall, while the stock shows strong performance relative to its 52-week low, the current technical indicators suggest that traders should watch key support and resistance levels closely. A breakout above resistance levels could signal a bullish trend, whereas a drop below support could lead to further declines.