Trident Limited (TRIDENT) Stock - Complete Technical Analysis - Dec 16, 2024

Trident Limited (TRIDENT) Stock Analysis: Key Support, Resistance & Technical Indicators for 2024

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. Trident Limited (TRIDENT) has been trading in a volatile range lately. With the stock at 36.57, it's 30.87% below its 52-week high, indicating a correction from the highs. The ATR reveals moderate volatility, fluctuating between 4 and 6.5, which suggests potential for both short-term trades and risk. The RSI is in neutral territory, but nearing overbought levels, while the MACD suggests a slight bullish trend. The stock's support is strong at around 33.5 to 34, backed by key moving averages and pivot levels. If the stock holds these levels, a move towards resistance at 37 to 40 could be in play. Traders should be cautious of sharp price swings, especially if the stock breaks below 35.19, as it could signal a deeper retracement. On the other hand, a strong breakout above the 37.90 level could lead to a test of higher targets around 40-42, providing upside potential.