Techno Electric & Engineering Company Limited (TECHNOE) Stock - Complete Technical Analysis - Dec 17, 2024

Techno Electric Stock Analysis: Key Support, Resistance & Indicators 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. Techno Electric & Engineering Company Limited, currently priced at 1,509, is showing some key technical signals for traders to consider. With a price sitting 17.17% below its 52-week high of 1,822, the stock seems to be encountering resistance near this level. On the other hand, it is 148.54% higher than its 52-week low of 607.20, signaling a strong recovery but also the possibility of resistance at higher prices.

Looking at the short-term price action, the stock has fluctuated between 1,436 and 1,525 recently, forming a trading range. Support is seen around 1,436, and resistance is at 1,525. These levels are crucial for traders to monitor, as breaking either level could signal the next move for the stock. The stock has been fluctuating within these bounds, which could be indicative of consolidation or a potential breakout.

On the technical side, indicators are offering mixed signals. The RSI sits at 51.76, suggesting a neutral market condition with neither overbought nor oversold conditions. The MACD is negative, signaling possible bearish momentum, while the Awesome Oscillator and the Williams %R also provide mild bearish signals. The ADX, at 13.45, shows a weak trend, reinforcing the idea that the stock is in a period of consolidation rather than a strong directional move. The Stochastic RSI is also at neutral levels, confirming the lack of momentum.

Regarding moving averages, the stock price is above the 50-day EMA but below the 200-day EMA, indicating that the stock is in a neutral to bullish phase in the short term but may face resistance in the longer term. Traders should pay attention to these levels, as the 200-day EMA may act as a resistance point if the stock continues its upward movement.

In summary, the stock is currently in a consolidation range with key levels at 1,436 for support and 1,525 for resistance. A break above 1,525 could lead to higher levels, possibly up to the 52-week high, while a breakdown below 1,436 might indicate a further pullback towards the 1,350 area. Keep an eye on these price points for any significant movement.