EIH Associated Hotels Limited (EIHAHOTELS) Stock - Complete Technical Analysis - Aug 30, 2024

"EIHAHOTELS Stock Analysis: Key Support

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.

For EIH Associated Hotels Limited (EIHAHOTELS), the current technical landscape offers a mixed yet insightful picture.

Current Price: 401

Support and Resistance Levels:

Support: The primary support levels are near 399.26 (Fibonacci S1) and 396.1 (recent low), with further support at 371.51 (200 EMA).

Resistance: Key resistance levels are around 424.3 (20 EMA) and 430.24 (30 EMA), with strong resistance near 467.85 (Ichimoku Base Line) and 500.97 (Classic Pivot R1).

Technical Indicators:

MACD: Currently in a bearish phase with a negative level, suggesting the potential for continued downtrend.

RSI: At 38.32, indicating that the stock is approaching the oversold zone, which could signal a possible rebound.

ADX: At 16.38, showing a weak trend, indicating a lack of strong directional movement.

Stochastic %K: Extremely low at 3.2, pointing to oversold conditions and possible upward reversal.

Commodity Channel Index (CCI): Significantly negative at -105.26, confirming the bearish sentiment.

Williams %R: Very low at -93.99, aligning with oversold conditions and potential for a bounce.

Awesome Oscillator: Negative at -39.46, supporting the bearish trend.

Moving Averages:

Exponential Moving Averages (EMA): The stock is trading below the 10 EMA (411.98) and 20 EMA (424.3), suggesting bearish momentum. The 200 EMA (371.51) serves as a significant support level.

Simple Moving Averages (SMA): The stock is below the 10 SMA (411.16) and 20 SMA (429.18), reflecting a bearish trend.

Chart Patterns:

Doji: Indicates indecision in the market, with the opening price at 399.9 and closing at 400.9, suggesting a potential reversal if followed by bullish confirmation.

Bullish Harami: This pattern shows a potential reversal with a smaller candle inside the previous day's body, signaling a possible change in trend direction.

Spinning Top: Reflects indecision in the market, with a tight range between the open and close, suggesting uncertainty and potential for volatility.

Pivot Points:

Classic Pivot: The classic pivot is at 465.48, with resistance levels at 500.97 (R1) and 531.71 (R2), and support levels at 434.74 (S1) and 399.26 (S2).

Fibonacci Pivot: The key Fibonacci pivot is at 465.48, with resistance at 490.78 (R1) and support at 440.19 (S1).

Woodie Pivot: The Woodie pivot is at 469.69, with resistance at 509.39 (R1) and support at 443.16 (S1).

Volatility:

Average True Range (ATR): The ATR values have been fluctuating, with recent high volatility indicating that traders should be prepared for potential price swings.

In summary, EIHAHOTELS is currently facing bearish conditions with several indicators signaling oversold levels. Watch for potential support at recent lows and moving averages, while keeping an eye on resistance levels for possible reversal opportunities.