CEAT Limited (CEATLTD) Stock - Complete Technical Analysis - Dec 17, 2024

CEAT Limited Stock Analysis: Key Support, Resistance, and Momentum Signals Dec 2024 Update

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. CEAT Limited (CEATLTD) has shown notable volatility recently, trading at 3,147.35, which is 12.06% below its 52-week high of 3,578.8 and 42.40% above its 52-week low of 2,210.15. In the last five trading days, the stock has fluctuated within a tight range, between 3,125 and 3,225. This price action indicates a potential consolidation phase, with the stock testing its resistance near 3,200 and 3,225, while finding support near 3,125.

From a technical perspective, the stock is trending positively, with the ADX indicating strong momentum, and the RSI is at a neutral level of 56.46. The MACD line remains above the signal line, showing a bullish trend. The Awesome Oscillator is also in the green, confirming positive market sentiment. However, caution is advised, as the Williams Percent Range suggests the stock is not in an overbought or oversold position, indicating that there is limited momentum.

The stock is above its key moving averages, with the Exponential Moving Average (EMA) at 3,147.76 (10-day), suggesting a short-term bullish trend. The Ichimoku Base Line at 3,119 reinforces the positive outlook, while the stock's price being above this level indicates continued strength. Traders should be mindful of support around 3,125 and resistance near 3,225. If CEAT breaks above this resistance, it could head towards 3,350, while a drop below support may signal a potential decline to 3,000.

Given the volatility and current market conditions, traders should consider using proper risk management strategies. Monitor for any breakout above 3,225 for potential long positions, or watch for a breakdown below 3,125 to assess the risk of a downward movement. Patience and careful monitoring of price action at these key levels will be essential in making informed trading decisions.