- The Stacks price closed the previous day’s trade at INR 86.16 with a market capitalization of INR 153 billion and a circulating supply of 131 Cr STX
- The STX price after the recent spike may consolidate for a while and later pull a strong leg up gaining more than 20%
Stacks(STX) Technical – Analysis for the Month
The Stacks price began the monthly trade on a bearish note and plunged by more than 28%. However, the sudden spike since the early trading hours flipped the bearish trend and piled up a huge buying volume. Currently, the price appears to be a little exhausted as it is consolidating within narrow ranges. After a brief consolidation, the price is expected to pull a massive leg up towards INR 150 by the end of April 2022.
Stacks(STX) Technical Analysis at a Glance
The Stacks price maintained the uptrend line, despite multiple surges and plunges during the meantime. The asset consolidated for a long time before it spiked high during the times when most of the assets are falling hard. After a quick surge, the price is consolidating healthy, probably to pull a notable leg up later.
|Short-Term||The STX price may maintain a notable upswing after a huge spike and hence a consolidation may be expected for a while before the next leg up|
|Mid-Term||The asset is very less volatile in the past couple of days and the fresh spike may indicate notable volume to ignite a notable uptrend|
|Long-Term||The long term forecast is pretty bullish as the price is about to take off a significant upswing very soon|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||69.20 / 47.98||Buy / Neutral|
|MACD(12,26)||0.001 / -0.034||Buy / Sell|
|Average Directional Index(ADX)||47.55 / 30.06||Neutral / Sell|
|Bull-Bear Power||0.1830 / -0.09||Buy / Sell|
|Moving Average(MA)-50||INR 88.47||INR 97.62|
|Moving Average(MA)-200||INR 90.00||INR 134.23|
|Resistance||INR 96||INR 134|
|Support||INR 85||INR 80|
|Average True Range(ATR)||0.002||0.09|
The indicators suggest a notable upswing in the short term as most of them are extremely bullish. Apart from being extremely bullish, it is also highly volatile at the moment and hence a drastic price movement can be expected irrespective of the direction. However, in the long term, the asset possesses a bearish trend and also the price is less volatile.
STX/INR Technical-Analysis for Short-Term
- The Stacks price appears to have flipped the bearish trend that is ignited at the beginning of the month
- The asset has faced a couple of rejections at these levels before, and hence a strong rebound is the need of the hour
- The price is waiting for a strong boost that may clear the neckline of the double bottom pattern at INR 96.71
- Further, a notable upswing may be ignited that could uplift the price above a 3-digit figure initially and later at the pivotal levels at INR 112
STX/INR Technical Analysis for Long-Term
- The STX price since the beginning of 2022 trade is swinging within the pivotal resistance and support levels
- After the recent flip from the lower support, the price is expected to maintain a significant uptrend towards the resistance at INR 113
- However, INR 98.32 may hinder the rally as the asset has faced a trend reversal a couple of times before.
- Once the asset surpasses the 3-digit figure, it may validate a significant uptrend further.
Where & How to Buy Stacks(STX)
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