ABB India Limited (ABB) Stock - Complete Technical Analysis - Nov 27, 2024

ABB India Limited (ABB) Stock Analysis: Key Technical Indicators and Market Trends

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.

As of November 27, 2024, ABB India Limited (ABB) is trading at 7,496.20, approximately 18.07% below its 52-week high of 9,149.95 and 78.67% above its 52-week low of 4,195.55. The stock's P/E ratio stands at 94.1, with a book value of 299 and a dividend yield of 0.32%. The Return on Capital Employed (ROCE) is 30.7%, and the Return on Equity (ROE) is 22.9%.

Technical indicators present a mixed outlook. The Relative Strength Index (RSI) at 55.36 suggests neutral momentum, while the Average Directional Index (ADX) at 34.02 indicates a moderately strong trend. The Stochastic %K at 86.52 points to potential overbought conditions. The Moving Average Convergence Divergence (MACD) level is -167.74, signaling bearish momentum. The Commodity Channel Index (CCI) at 99.41 is near the overbought threshold, and the Williams Percent Range at -4.69 confirms overbought conditions.

Moving averages reveal that the current price is above the 10-day Simple Moving Average (SMA) of 6,952.51 and the 20-day SMA of 7,112.26, indicating short-term bullishness. However, it is below the 50-day SMA of 7,703.96 and the 100-day SMA of 7,788.67, suggesting caution in the medium term. The 200-day SMA at 7,293.67 serves as a significant support level.

In the past five trading sessions, ABB has shown an upward trajectory, with the closing price rising from 6,760.80 on November 21 to 7,496.20 on November 27. This trend indicates strong buying interest. The Average True Range (ATR) over 14 days is 240.50, reflecting moderate volatility.

In summary, while short-term indicators suggest bullish momentum, medium-term signals advise caution. Traders should monitor the 200-day SMA as a key support level and be vigilant for potential overbought conditions indicated by the Stochastic %K and Williams Percent Range.