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

CESC Limited Technical Analysis: Key Support, Resistance, and Market Outlook Partha Kuchana - Fin

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. CESC Limited (CESC) is displaying interesting dynamics, with the stock currently trading at 187.50, significantly above its 52-week low of 109.75 but still 11.76% below the 52-week high of 212.49. The P/E ratio of 31.7 indicates the stock is priced on the higher side compared to its peers, implying the market has priced in some expected growth. The companys fundamental metrics, including a ROE of 7.63% and ROCE of 9.27%, suggest a moderate level of profitability, with potential room for growth.

Technically, CESC has seen a decline over the last few sessions, with a bearish "Three Black Crows" pattern signaling possible continuation of the downtrend. The stock's RSI of 52.73 suggests it's neither in an overbought nor oversold state, keeping the short-term outlook neutral. However, the MACD remains positive, suggesting some bullish potential in the near term. The ADX reading of 21.79 points to a weak trend, indicating that the stock might see price reversals or fluctuations in the coming days.

Support levels are positioned at 185.10, and should this level break, further downside could be seen towards 164.47. On the upside, the immediate resistance is around 190191, and a breakout above this could lead the stock to test higher levels at 202.07. With the stocks volatility indicated by ATR, investors should be prepared for sudden price movements, especially if these technical levels are breached. Caution is advised, as the stock is at a crucial juncture with both support and resistance levels converging in the short term.