Technical Momentum and Market Returns Reviewed
Technical Momentum and Indicator Overview
The technical trend for Mphasis has shifted from a mildly bearish stance to a sideways movement, signalling a period of consolidation after recent fluctuations. On a weekly basis, the Moving Average Convergence Divergence (MACD) indicator remains mildly bearish, suggesting some downward pressure in the short term. However, the monthly MACD presents a bullish tone, indicating that longer-term momentum may be stabilising or preparing for potential upward movement.
The Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, currently shows no definitive signal on both weekly and monthly charts. This neutrality suggests that the stock is neither…
