UFLEX Limited (UFLEX) Stock - Complete Technical Analysis - Sep 11, 2024

UFLEX Limited Stock Analysis: Key Support & Resistance Levels Technical Insights & Trends

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. Welcome to today's technical analysis of UFLEX Limited (UFLEX). The stock is currently trading at 760, which is 11.65% below its 52-week high of 859.8 and 102.57% above its 52-week low of 375.

Support and Resistance Levels:

Support: Key support levels are at the Classic Pivot S1 of 580.93, and Camarilla Pivot S1 of 733.12. These levels are crucial for monitoring potential buying opportunities or rebound points.

Resistance: Significant resistance levels are seen at the Classic Pivot R1 of 901.98 and Camarilla Pivot R1 of 791.98. These levels could be challenging for the stock to surpass and should be watched for potential breakout points or resistance.

Technical Indicators:

Moving Averages: The stock is trading near the Exponential Moving Average (EMA) of 10 days at 765.38, indicating a short-term trend that is slightly bearish given the current price. Longer-term EMAs such as the 50-day at 660.67 and 200-day at 531.79 suggest a general uptrend.

RSI: The Relative Strength Index (RSI) is at 59.22, signaling that the stock is nearing overbought conditions but is not excessively so.

MACD: The MACD level is strong, indicating bullish momentum.

ADX: The Average Directional Index (ADX) at 47.13 suggests a strong trend, and the trend direction is confirmed by the high ADX value.

Stochastic and Williams Percent Range: The Stochastic %K is low, indicating that the stock might be oversold, while the Williams Percent Range is very low, suggesting extreme bearish conditions which could be a buying signal if the stock starts to rebound.

Chart Patterns and Observations:

Volume Weighted Moving Average (VWMA): Currently at 753.81, the VWMA supports the idea that recent trading volume has been relatively strong, aligning with the stock's current trend.

Hull Moving Average (HMA): The HMA at 764.58 provides a smoother view of the stock's price action, confirming the ongoing short-term trend.

Overall, UFLEX is showing a mixed technical picture. While it is above significant support levels and demonstrates strong trends according to the ADX, the high RSI and bearish indicators such as the Stochastic and Williams Percent Range suggest careful monitoring is required. Traders should watch the resistance levels closely for potential breakout opportunities, while also keeping an eye on support levels for potential reversals.