Precision Wires India Limited (PRECWIRE) Stock - Complete Technical Analysis - Dec 06, 2024

Precision Wires India (PRECWIRE) Technical Analysis Support, Resistance & Indicators Overview

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 showing strong recovery potential as it trades at 193.66, up significantly from its 52-week low of 103.55. Currently, the stock is 12.37% below its 52-week high, indicating some short-term retracement. However, the significant rise of 87.02% from the 52-week low is noteworthy.

Recent price action reflects volatility, with sharp fluctuations between 197.75 and 190.22. Despite this, the stock has managed to recover, closing at 193.66. The technical indicators suggest mixed signals. The RSI at 57.17 shows balanced conditions, indicating no immediate overbought or oversold conditions. The Stochastic Oscillator is above 80, signaling the stock is approaching overbought conditions, and a pullback could be expected.

On the other hand, the MACD remains positive at 0.81, supporting the bullish trend. Momentum remains strong, as indicated by the Awesome Oscillator, and the Commodity Channel Index (CCI) at 93.08 also points towards a bullish phase. The stock's support is well-established at 185-187, with resistance in the range of 200-205. Traders should watch for price action around these levels.

The ADX value of 17.55 suggests the stock is currently in a weak trend, but this could change if it consolidates and builds a stronger move upwards. Traders can watch for potential entry opportunities near the support levels, with price targets towards the resistance zone. In the near term, volatility may persist, but the overall market sentiment remains bullish, driven by strong momentum and technical indicators pointing to continued strength.