PI Industries Limited (PIIND) Stock - Complete Technical Analysis - Nov 28, 2024

PI Industries Stock Analysis: Key Support and 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.

PI Industries is facing considerable downward pressure, with the current price at 4043, significantly below key moving averages like the 50-day EMA at 4381. The RSI, sitting at 28.53, confirms oversold conditions, suggesting a technical rebound could be imminent. Momentum indicators such as the MACD and Awesome Oscillator indicate negative momentum, aligning with recent price drops. The Stochastic RSI at 0.0 suggests extreme oversold levels, reinforcing the possibility of a near-term bounce. Support around 4000 is crucial; a break below could push the stock toward the next support at 3850. Resistance is seen near 4200, where previous attempts to rise have failed. Volatility remains a factor, as evidenced by the ATR, indicating traders should be prepared for sharp moves. With the 52-week low at 3220, the stock still holds a 25% cushion, providing some longer-term stability. Traders should closely monitor the 4000 level for any signs of reversal or further breakdown.