Wendt (India) Limited (WENDT) Stock - Complete Technical Analysis - Aug 30, 2024

Wendt India Stock Analysis: Key Support, Resistance

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.

Today, we're analyzing Wendt (India) Limited, stock ticker WENDT. Currently, the stock is trading at 14,256, which is 16.14% below its 52-week high of 17,000.05 and 37.06% above its 52-week low of 10,401. The price is encountering significant resistance at the Classic Pivot R1 level of 17,066.45, with further resistance at R2 of 18,427.7 and R3 of 21,327.85. On the downside, immediate support is seen at Classic Pivot S1 around 14,166.3, with stronger support at S2 of 12,627.4 and S3 at 9,727.25.

The technical indicators are showing a mixed picture. The MACD is currently in the negative zone, indicating bearish momentum. The RSI is below the 40 level, suggesting that the stock is in the oversold territory. The Stochastic and Stochastic RSI are also in the oversold range, further reinforcing the bearish sentiment. The ADX is below 20, indicating a weak trend.

The Moving Averages are providing some mixed signals. The stock is below the Exponential Moving Average (EMA) across various periods, including the 10, 20, and 50-day EMAs, which suggests a bearish trend. However, the price is above the 200-day EMA, indicating that the longer-term trend might still be positive.

Chart patterns reveal a bearish shooting star pattern, which typically signals a potential reversal from an uptrend. The Average True Range (ATR) shows significant volatility, highlighting potential price swings.

Overall, Wendt (India) Limited is facing short-term bearish pressure with resistance levels to watch and some key support areas to monitor. Traders should stay alert to potential reversals and keep an eye on key technical indicators for any signs of trend changes.