Technical Analysis Summary
- Trade Direction: Short (Bearish) / Continuation of Downward Trend
- Reasoning: The stock has been locked in a long-term structural downtrend, defined by lower highs and lower lows. Both the red and blue moving average lines are sloping downwards, acting as dynamic ceilings. Currently, the price is consolidation/trading directly beneath these moving averages. Although the MACD histogram shows a minor positive uptick (9.29) indicating short-term oversold consolidation, the broader trend structure remains heavily bearish.
Key Levels
- Resistance:1,135 – 1,150
- Reasoning: This marks the immediate dynamic resistance area formed by the sloping moving averages and the recent minor swing high where previous recovery attempts stalled.
- Support:1,000 – 1,050
- Reasoning: This area lines up with the recent multi-month structural lows visible toward the right side of the chart, serving as the immediate psychological and technical baseline floor.