Kokuyo Camlin Limited (KOKUYOCMLN) Stock - Complete Technical Analysis - Dec 10, 2024

Kokuyo Camlin Stock Analysis: Key Support & Resistance Levels Decoded

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.

Kokuyo Camlin Limited shows notable bearish trends, with its price sharply corrected from its 52-week high. The RSI value near 33 suggests potential oversold conditions, but the lack of strong momentum, as indicated by MACD and Awesome Oscillator, keeps the bias bearish. Key moving averages, including the 200-day EMA and SMA, are above the current price, confirming the downtrend.

A detailed look at pivots and chart patterns reveals strong support near 124, which aligns with previous consolidation levels. Resistance around 151 remains crucial for reversing the trend. ADX at 38 highlights significant trend strength, although favoring sellers. Momentum indicators like the Williams %R and CCI are in bearish zones, yet the Stochastic RSI suggests a short-term bounce might be on the horizon.

Traders should monitor price behavior near support and watch for volume spikes that could signal a potential trend change. Short-term traders may find opportunities in quick pullbacks, while long-term investors should await a confirmed breakout above 151. Volatility as seen in ATR indicates moderate movement, suitable for tactical trades.