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(PennarSteel) Pennar Steel complete technical analysis [charts+indicators] | Buy/Sell Pennar Steel | (PennarSteel) share price targets

Complete technical analysis of Pennar Steel (PennarSteel) by charts plus indicators, forecast predictions and share price targets for Pennar Steel (PennarSteel)

Showing technical analysis as on 2023-01-11 View latest technical analysis

10 day averaged volume of Pennar Steel is 44671

Date	Daily Closing Price	Open	High	Low	Volume
11 Wed Jan 2023	57.30	55.05	58.55	55.05	1.46 times
10 Tue Jan 2023	55.95	57.10	57.20	55.60	0.451 times
09 Mon Jan 2023	56.65	55.30	57.80	55.30	0.655 times
06 Fri Jan 2023	56.30	57.45	57.85	55.50	1.118 times
05 Thu Jan 2023	57.60	55.95	58.75	55.95	0.694 times
04 Wed Jan 2023	56.95	57.90	58.70	56.20	1.722 times
03 Tue Jan 2023	57.85	54.95	59.50	54.95	0.847 times
02 Mon Jan 2023	58.70	57.85	59.60	57.00	1.539 times
30 Fri Dec 2022	56.75	57.55	58.75	56.30	1.058 times
29 Thu Dec 2022	57.00	57.50	57.50	56.00	0.945 times

My analysis of stock is bearish for shortterm, and stock might move down till 55 or till 52. Use a stoploss of 57.57 and if the stock hits stoploss, then it can shoot up till 60.12

Share price targets for Pennar Steel (PennarSteel)

Target Type	Value
Downside Target	40.10
Downside Target	41.85
Downside Target	50.00
Downside Target	54.95
Downside Target	56.60
Upside Target	58.55
Upside Target	59.60
Upside Target	60.05
Upside Target	62.35
Upside Target	62.95
Upside Target	65.95
Upside Target	70.20

Intraday share price targets for Pennar Steel (PennarSteel)

Target Type	Value
Downside Intraday Target	55.38
Downside Intraday Target	53.47
Upside Intraday Target	58.88
Upside Intraday Target	60.47
Downside Intraday Target	56.97

Weekly technical analysis of Pennar Steel (PennarSteel)

Date	Weekly Closing Price	Open	High	Low	Volume
11 Wed Jan 2023	57.30	55.30	58.55	55.05	0.433 times
06 Fri Jan 2023	56.30	57.85	59.60	54.95	0.692 times
30 Fri Dec 2022	56.75	50.40	58.75	50.40	0.733 times
23 Fri Dec 2022	50.15	60.85	62.95	50.00	1.061 times
16 Fri Dec 2022	60.85	62.65	65.95	60.05	1.021 times

Price has moved up this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Pennar Steel (PennarSteel)

Date	Monthly Closing Price	Open	High	Low	Volume
11 Wed Jan 2023	57.30	57.85	59.60	54.95	0.188 times
30 Fri Dec 2022	56.75	62.60	65.95	50.00	0.463 times
30 Wed Nov 2022	62.70	59.50	70.20	56.60	1.185 times
31 Mon Oct 2022	59.50	41.90	62.35	41.85	1.402 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Pennar Steel (PennarSteel)

Price action analysis of Pennar Steel ( (PennarSteel) ) based on a short term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Pennar Steel ( (PennarSteel) ) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Pennar Steel ( (PennarSteel) ) based on a short to mid term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Pennar Steel ( (PennarSteel) ) based on a mid to longer term time period is negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

ADX buy sell signal for Pennar Steel stock for short term is SELL. Signal strength is Weak and stock is losing momentum.

MACD generated a SELL signal for Pennar Steel in short term and the sell signal is strong.

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Pennar Steel Stock in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. Bears are getting stronger in this stock.

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be moving up

CCI has generated a buy signal for Pennar Steel in short term but BUY signal is weak.

RSI is generating a BUY signal in short term but buying is losing momentum.

MRSI is in positive zone. This is a BUY zone

Stock of Pennar Steel is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 57.22 and Pennar Steel (PennarSteel) stock is trading above this level. This is a good sign for the stock and it could move higher. VWAP is falling down

People seem to be coming out and selling the Pennar Steel (PennarSteel) stock. Volume based technical analysis of Pennar Steel (PennarSteel) stock is negative.

Pennar Steel Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.