Creative Newtech Limited (CREATIVE) Stock - Complete Technical Analysis - Dec 10, 2024

Creative Newtech Limited Stock Analysis Support, Resistance & Trend Forecast Technical Insights

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.

Creative Newtech Limited (CREATIVE) stock is showing significant volatility, trading at 989.80, just below its recent 52-week high. Over the past few days, weve observed fluctuating price action, with a notable drop on December 10 after a surge on December 9, signaling some short-term price consolidation. The stock is still in an uptrend, trading well above its 200-day EMA, suggesting a generally bullish sentiment, but caution is advised.

The Relative Strength Index (RSI) is in neutral territory, signaling no extreme overbought or oversold conditions. However, the Stochastic Oscillator and Stochastic RSI both show signs of potential overbought territory, indicating that the stock might experience a pullback. On the bullish side, the MACD is positive, indicating ongoing momentum, while the ADX shows a strong trend, though it's wise to wait for confirmation before taking large positions.

The stocks ATR indicates significant price fluctuations, reflecting heightened volatility. Support is at 970, with the 950-945 region acting as a backup. The resistance levels are found at 1,030 and 1,050. A breakout above the latter could signal more upside potential, while a fall below 970 could lead to further downside. Traders should pay attention to price movements within these ranges and be ready to adjust their strategies according to any breakout or breakdown.

If you're trading CREATIVE, consider staying cautious around resistance zones and monitor for confirmation before entering long positions. A clear breakout above resistance or a sustained drop below key support levels could dictate the next directional move.