Key Takeaways
- 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
| 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 |
Pivot Levels
| Pivot Levels | Short-Term | Long-term |
| 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 |
Oscillators
| Oscillators | Short-Term | Long-Term |
| Stochastic Oscillator | 34.45 | 40.14 |
| Ultimate Oscillator | 59.72 | 47.73 |
| Average True Range(ATR) | 0.002 | 0.09 |
| CCI | 215.99 | -47.18 |
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
Source: Tradingview
- 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
Source: Tradingview
- 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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The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.
