Jai Corp Limited (JAICORPLTD) Stock - Complete Technical Analysis - Sep 10, 2024

Bearish Breakdown: Jai Corp Limited Technical Analysis Support & Resistance 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.

Let's dive into the technical analysis of Jai Corp Limited (JAICORPLTD) stock. Currently trading at 352.90, this stock is experiencing a bearish trend as indicated by several technical indicators. The Relative Strength Index (RSI) is positioned around 40, suggesting that the stock is nearing the oversold territory, which could signal a potential reversal or further decline. The Stochastic %K is very low, indicating a strong bearish momentum.

The MACD is below the signal line, reinforcing the negative trend, while the Awesome Oscillator also supports a bearish outlook. The Commodity Channel Index (CCI) is deeply negative, indicating that the stock is in a strong downtrend. The Williams Percent Range is extremely low, further highlighting the selling pressure.

In terms of moving averages, the stock is currently trading below all major exponential moving averages (EMA) and simple moving averages (SMA), including the 10-day, 20-day, and 50-day EMAs, suggesting a sustained bearish trend. The stock is also trading below the Ichimoku Base Line, which adds to the bearish sentiment.

A significant chart pattern to note is the Three Black Crows, a bearish continuation pattern, indicating further downward pressure. The stock's current price is 19.48% below its 52-week high and 73.80% above its 52-week low, reflecting high volatility. The Average True Range (ATR) suggests high volatility with recent values showing substantial fluctuations.

Support levels to watch are around 328.52 and 286.83, while resistance levels are near 367.58 and 398.43.

Given these factors, the stock is currently in a downtrend, and traders should be cautious of further declines.