Zee Entertainment Enterprises Limited (ZEEL) Stock - Complete Technical Analysis - Dec 16, 2024

Zee Entertainment (ZEEL) Stock Analysis: Key Support & Resistance Levels You Need 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.

Zee Entertainment Enterprises Limited (ZEEL) stock is trading at 133, having rebounded significantly from its 52-week low of 114. The immediate resistance lies at 140, with the stock facing hurdles in surpassing this level. If the price breaks above 140, it could target 145 to 150. On the downside, the key support lies at 130, and below this level, further support is found near 125. A drop below 125 could result in further declines toward 120.

The RSI at 53.33 is neutral, indicating that the stock has room to move in either direction. The Stochastic %K is showing bullish momentum, but the Stochastic RSI Fast suggests that there may be a temporary pullback before any significant upward movement. The MACD is positive but shrinking, signaling a weakening bullish momentum. The Awesome Oscillator, although still positive, is losing strength, which supports the idea of slowing bullish momentum.

The ADX at 29.11 suggests that the stock is in a trend phase, but the trend strength is not strong enough to expect a breakout without confirmation from other indicators. Therefore, traders should monitor the price action at the key resistance level of 140 and support levels at 130 and 125. A breakout above 140 could signal a stronger bullish move, while a failure to break through might lead to a pullback.