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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 2023-01-16 View latest technical analysis

10 day averaged volume of Pennar Steel is 61969

Date	Daily Closing Price	Open	High	Low	Volume
16 Mon Jan 2023	59.90	61.30	61.70	59.50	1.242 times
13 Fri Jan 2023	60.70	59.75	63.30	59.35	2.555 times
12 Thu Jan 2023	59.55	58.00	60.00	56.65	1.328 times
11 Wed Jan 2023	57.30	55.05	58.55	55.05	1.053 times
10 Tue Jan 2023	55.95	57.10	57.20	55.60	0.325 times
09 Mon Jan 2023	56.65	55.30	57.80	55.30	0.472 times
06 Fri Jan 2023	56.30	57.45	57.85	55.50	0.806 times
05 Thu Jan 2023	57.60	55.95	58.75	55.95	0.5 times
04 Wed Jan 2023	56.95	57.90	58.70	56.20	1.241 times
03 Tue Jan 2023	57.85	54.95	59.50	54.95	0.611 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 59.6, but if it comes below 59.6, then a intra day sell could be more profitable.
If you take a sell trade below 59.6, then use 59.6 as stoploss and 57.37 as target. However if you take a buy trade in stock , then use 59.6 as stoploss and 62.4 as target.

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
Downside Target	58.75
Upside Target	61.70
Upside Target	62.35
Upside Target	62.95
Upside Target	63.30
Upside Target	65.95
Upside Target	70.20

Intraday share price targets for Pennar Steel (PennarSteel)

Target Type	Value
Downside Intraday Target	59.03
Downside Intraday Target	58.17
Upside Intraday Target	61.23
Upside Intraday Target	62.57
Upside Intraday Target	60.37

Weekly technical analysis of Pennar Steel (PennarSteel)

Date	Weekly Closing Price	Open	High	Low	Volume
16 Mon Jan 2023	59.90	61.30	61.70	59.50	0.217 times
13 Fri Jan 2023	60.70	55.30	63.30	55.05	1.343 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

Price has moved down 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
16 Mon Jan 2023	59.90	57.85	63.30	54.95	0.345 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 definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Price action analysis of Pennar Steel ( (PennarSteel) ) based on a short to mid term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

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

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

MACD generated a BUY signal for Pennar Steel in short term but the buy signal is initial and weak.

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

Pennar Steel Stock is trading near its recent HIGHS, which reflects strong buying momentum in short term! Bulls are getting stronger in this stock.

Ichimoku cloud is of red color and prices are in or above the red cloud Prices appear to be coming down

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

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

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

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 58.62 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 rising upwards.

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 is giving positive 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.