Data Patterns (India) Limited (DATAPATTNS) Stock - Complete Technical Analysis - Dec 16, 2024

"Data Patterns Stock Analysis: Key Levels to Watch for Traders DATAPATTNS 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. Data Patterns (India) Limited (DATAPATTNS) has been showing significant volatility with a current price of 2,541, which is well below its 52-week high of 3,655. The stock has seen a recent rebound from its 52-week low of 1,751, up by 45.13%, which shows strong recovery potential. The stocks relative strength is neutral, as indicated by the RSI of 54.49, showing it is neither overbought nor oversold. The Stochastic RSI is approaching overbought territory, which means a short-term correction could be possible.

Moving averages offer mixed signals; the price is above its short-term EMAs, suggesting some bullish momentum, but is below its longer-term averages, indicating that the stock might face some resistance at higher levels. The 10-day EMA at 2,571 is acting as short-term resistance, while the 200-day EMA at 2,540 is a critical support level. The ADX level of 27.88 suggests the stock is in a weak trend phase, which means the price may stay range-bound in the near term, fluctuating between the support near 2,400 and resistance around 2,670.

The stocks recent trading range and increased volatility as shown by the ATR point towards potential price swings, and the stock might test key levels again. Traders should be mindful of the 2,670 resistance and 2,400 support levels. A breakout above 2,670 could signal further bullish momentum, while a fall below 2,400 could indicate further downside risk. Pay attention to reversal signals around these levels to decide on potential trades.