Cantabil Retail India Limited (CANTABIL) Stock - Complete Technical Analysis - Dec 06, 2024

Cantabil Retail India Stock Analysis Key Support & Resistance Levels Technical Breakdown

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.

Cantabil Retail India Limited (CANTABIL) stock has recently shown price fluctuations, trading at 239, which is about 22.79% below its 52-week high of 309.5. This stock has demonstrated resilience, with a 32.36% increase from its 52-week low of 180.55, making it an interesting candidate for traders looking for growth opportunities. Currently, the price is approaching resistance levels near 245 and 261, with support lying in the range of 212 to 195.

Looking at technical indicators, the RSI suggests the stock is in neutral territory, indicating that it is neither overbought nor oversold, which could point to range-bound trading in the near future. The ADX value of 19.15 confirms a weak trend, meaning the stock could be consolidating before a potential breakout. The CCI is currently at elevated levels, suggesting the stock might be entering overbought territory, which could signal a reversal soon.

The Exponential Moving Averages (EMAs) indicate that the stock is trading above its short-term averages, especially the 10-day EMA, which suggests short-term bullish momentum. However, long-term averages, such as the 200-day EMA, indicate that the stock is in a range-bound phase, and further confirmation of an upward trend is required. The Awesome Oscillator is showing some bullish momentum, but traders should be cautious of any sudden price drops, especially with the ATR indicating increasing volatility.

Traders should closely watch for breakouts above 245, as this could signal a new uptrend. Conversely, if the stock falls below support levels like 212 or 195, it could indicate further downside. The presence of bullish indicators like MACD and Momentum adds weight to the possibility of a positive breakout, but confirmation is key. Monitoring volume and price action will be essential to determining whether CANTABIL will maintain its momentum or face a reversal.