KEI Industries Limited (KEI) Stock - Complete Technical Analysis - Nov 29, 2024

KEI Industries Stock Technical Analysis - Key Support, Resistance & Trends November 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. KEI Industries Ltd. (KEI) is currently trading at 4,313, which is well above its 52-week low of 2,740.05, showing a healthy rebound. Despite the 14.41% pullback from its 52-week high of 5,039.70, the stock has strong technical support. With a solid P/E ratio of 62.4 and an impressive ROCE of 27.2%, KEI is demonstrating long-term growth potential.

Looking at the stock's recent price action, KEI closed at 4,313 after a brief dip to 4,255, indicating that buyers are maintaining control. The stock has found solid support at the 10-day EMA, suggesting that any pullback to this level could present a potential buying opportunity. On the upside, resistance is expected around 4,5004,600, with key moving averages providing resistance above these levels.

The stocks RSI of 62.73 and the stochastic RSI at extreme levels indicate that it is nearing overbought territory. Traders should keep an eye on this as the stock could face some short-term resistance. The MACD is in positive territory, confirming that the current momentum is bullish. However, its important to note that the ADX is at 22.02, signaling a moderate trend, meaning that there could be consolidation before further upward movement.

The average true range (ATR) is relatively stable, reflecting moderate volatility in recent sessions. Therefore, traders should consider entering around key support zones near 4,100, where the stock has been holding, and look for breakouts above 4,500 as potential entry points for continued upward movement. Any failure to hold these levels could lead to a short-term decline, with the next support seen around 4,000.

In conclusion, KEI is in an overall bullish trend but nearing potential reversal points. Watch for price action around the 4,1004,500 range and be prepared for volatility if the stock tests these levels.