Precision Wires India Limited (PRECWIRE) Stock - Complete Technical Analysis - Aug 30, 2024

Precision Wires India Ltd Stock Analysis: Key Levels and Technical Indicators Explained

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.

Precision Wires India Limited (PRECWIRE) is currently trading at 183, showing a slight dip of approximately 7.89% from its 52-week high of 198.8, and it is up about 85.99% from its 52-week low of 98.45. The stock exhibits a high Price-to-Earnings ratio of 193, which could indicate either a highly optimistic future growth expectation or an overvalued stock.

For technical indicators, the Average Directional Index (ADX) is at 28.87, suggesting a strong trend. The Relative Strength Index (RSI) at 64.99 indicates that the stock is approaching overbought territory, which could suggest potential for a price pullback. The Stochastic %K at 73.57 and the Stochastic RSI Fast at 70.14 further confirm that the stock is in the overbought region.

The Moving Average Convergence Divergence (MACD) level is positive, showing bullish momentum, while the Awesome Oscillator and Bull Bear Power are also in positive territory, reinforcing the current bullish trend. However, the Ultimate Oscillator at 49.17 and the Commodity Channel Index (CCI) at 98.98 indicate that while momentum is positive, the stock is nearing its upper limits.

Regarding moving averages, the stock is trading above its key moving averages. The 10-day Exponential Moving Average (EMA) is at 176.97, and the 200-day EMA is at 138.17. The stock is comfortably above these averages, indicating a bullish trend. The pivot points for various methodsClassic, Camarilla, Fibonacci, and Woodiesuggest support levels around 160.93 to 162.88 and resistance levels up to 190.41.

The Average True Range (ATR) over 14 days suggests a moderate volatility, which could imply potential price swings. Overall, the technical outlook for PRECWIRE is bullish, but given the overbought indicators, traders should be cautious of potential corrections and monitor key support and resistance levels closely.