ACC Limited (ACC) Stock - Complete Technical Analysis - Dec 13, 2024

ACC Limited Stock Analysis: Bullish Reversal or Continued Downtrend Key Levels to Watch

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. ACC Limited (ACC) Detailed Technical Overview:

ACC Limited, currently trading at 2,248.05, is displaying mixed signals in the market. The stock's performance indicates a price 20.95% below its 52-week high of 2,844, and 20.33% above its 52-week low of 1,868. Recent price action has revealed two significant patterns: a piercing pattern, indicating potential reversal from bearish to bullish, and a morning star pattern, which is typically seen as a bullish reversal indicator.

The technical indicators present a neutral to weak trend. The Average Directional Index (ADX) at 16.67 indicates weak trend strength, while the RSI of 50.76 reflects neutral momentum. This lack of strong direction is complemented by the MACD, which is in negative territory, signaling potential downward pressure in the short term. On the other hand, the Stochastic RSI at 71.83 is in overbought territory, which suggests a potential pullback or sideways movement in the near future.

The key levels to watch include support at 2,195 and 2,221, and resistance near 2,257 and 2,265. A breakthrough above these resistance levels could signal further upside potential, while a break below 2,195 could open the path for a decline towards 2,150 or even the 52-week low.

With an ATR ranging from 276.90 to 368.51 over the past 14 days, ACC shows decent volatility, making it suitable for short-term traders seeking price action opportunities. The stocks movement seems to be consolidating in a narrow range, awaiting a breakout or breakdown.

Overall, ACC is showing mixed signals, with traders advised to monitor key support and resistance levels for entry and exit points. A cautious approach would be recommended, given the neutral trend strength and overbought indicators.