Inox Wind Energy Limited (IWEL) Stock - Complete Technical Analysis - Dec 18, 2024

IWEL: Downtrend Alert Support Ahead

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.

Inox Wind Energy Limited (IWEL), currently at 10817.25, has pulled back from its 52-week high. The RSI is at 45, weakening. The MACD is negative, confirming the bearish trend. The ADX is low at 19.41, indicating a weak trend. The stock is below its 10, 20, 30, and 50-day EMAs and SMAs, but above its 100 and 200-day EMAs and SMAs. The Stochastic %K and Stochastic RSI are near 50. The Hull Moving Average is slightly above the current price. From a pivot point perspective, the price is near the classic pivot. The ATR is declining, indicating decreasing volatility. In summary, IWEL shows weakness with a short-term downtrend. The negative MACD and trading below shorter term moving averages are bearish. While longer term moving averages offer some support, recent price action suggests further downside if the price breaks below the pivot. Traders should be cautious and look for reversal confirmation, such as a break above the 20-day EMA, before going long.