National Aluminium Company Limited (NATIONALUM) Stock - Complete Technical Analysis - Nov 29, 2024

National Aluminium Stock Analysis Key Support & Resistance Levels Revealed

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.

NATIONALUM's technical setup suggests cautious optimism, with the stock trading at 242, slightly below short-term moving averages but well above the critical 200-day SMA at 188. The Ichimoku baseline at 235.82 indicates a strong support zone, and the Hull Moving Average above the current price points to potential bullish reversal if momentum picks up.

MACD remains positive, reflecting bullish momentum, though the ADX signals a weak trend, meaning a breakout or breakdown could happen soon. The Fibonacci pivot suggests immediate resistance at 243-244, aligning with recent price highs, while support levels near 224 offer a strong cushion. The Williams %R and Ultimate Oscillator imply the stock is in a neutral zone, potentially gearing up for a decisive move. Traders should watch for a break above 246 for bullish momentum continuation or a dip below 238 as a cautionary signal. Stochastic RSI suggests that any dips toward support levels could provide buying opportunities, especially if accompanied by rising volumes.