Marathon Nextgen Realty Limited (MARATHON) Stock - Complete Technical Analysis - Sep 12, 2024

Marathon Nextgen Realty Technical Analysis Key Support & Resistance Levels September 2024 Insigh

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. Marathon Nextgen Realty Limited is currently trading at 611, just below its recent 52-week high. The technical indicators present a mixed view. The ADX indicates a relatively weak trend, suggesting the stock might be in a consolidation phase. However, the RSI and Stochastic Oscillator both point to strong momentum, with the RSI in the bullish zone and the Stochastic RSI in an overbought territory.

Recent patterns include a Bullish Harami, signaling potential for an upward move, though this is tempered by current overbought conditions. The MACD is also showing bullish signs, but the overall momentum suggests caution due to possible volatility.

Key support is anticipated around the 592 level, where the Ichimoku Base Line and multiple moving averages converge. Resistance is likely near 614, influenced by the Hull Moving Average and recent price action. Traders should watch these levels closely, as breaking through the resistance could signal further gains, while falling below support might indicate a retracement.