Gulf Oil Lubricants India Limited (GULFOILLUB) Stock - Complete Technical Analysis - Sep 10, 2024

Gulf Oil Lubricants Technical Analysis Is a Rebound on the Horizon GULFOILLUB Stock Review

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.

Technical Analysis of Gulf Oil Lubricants India Limited (GULFOILLUB)

As of the latest data, Gulf Oil Lubricants India Limited is trading at 1,385. The stock is showing some interesting technical indicators that can guide traders.

Support and Resistance Levels:

Immediate Support: 1,316.75 (Classic Pivot)

Immediate Resistance: 1,568.05 (Classic Pivot R1)

Technical Indicators:

MACD: The MACD level is indicating positive momentum, suggesting a bullish trend.

RSI: The Relative Strength Index is at 55.28, signaling that the stock is neither overbought nor oversold but moving towards equilibrium.

ADX: The Average Directional Index is at 24.67, showing a moderate trend strength. A value above 20 typically indicates a trend is in place.

Stochastic %K: At 23.95, this suggests the stock is nearing oversold conditions, which could signal a potential buying opportunity.

Stochastic RSI: At 6.55, the stock is in deeply oversold territory, which may point to a forthcoming bullish reversal.

Awesome Oscillator: At 94.87, this indicates a strong bullish momentum.

Williams Percent Range: At -75.67, indicating the stock is in an oversold condition and could be primed for a bounce.

Moving Averages:

Short-Term MAs: The stock is currently trading below its 10-day and 20-day Simple Moving Averages, which are 1,410.34 and 1,387.62, respectively. This suggests a short-term bearish sentiment.

Long-Term MAs: The 50-day and 200-day Simple Moving Averages are 1,285.65 and 987.68. The stock is well above these long-term averages, indicating a strong uptrend.

Chart Patterns:

Bullish Harami: The formation of a Bullish Harami pattern, characterized by a small body candle within the previous large candle's range, suggests a potential reversal to the upside.

Volatility:

ATR: The Average True Range indicates high volatility, with recent values rising, reflecting increased price swings. This suggests that traders should be cautious and possibly prepare for larger price movements.

Summary: Gulf Oil Lubricants India Limited is currently facing some resistance levels but shows promising signs from several technical indicators. The Bullish Harami pattern combined with the oversold Stochastic RSI and Williams Percent Range suggests that a rebound may be on the horizon. Traders should watch for confirmation from these indicators to time their entry points effectively.