Apollo Hospitals Enterprise Limited (APOLLOHOSP) Stock - Complete Technical Analysis - Dec 23, 2024

Apollo Hospitals Stock Analysis Will it Break 7,400 Soon Technical & Fundamental Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Apollo Hospitals Enterprise Limited (APOLLOHOSP) is currently trading at 7,251.70, which is 3.89% below its 52-week high of 7,545, reached in November 2024. This price shows an increase of 37.22% compared to its 52-week low of 5,284.85 from December 2023. The stock is exhibiting a neutral sentiment in terms of technical indicators. The RSI at 56 suggests that the stock is neither overbought nor oversold, while the MACD indicates positive momentum, suggesting bullish potential. However, the Stochastic Oscillator is nearing overbought levels, which could imply a potential short-term correction.

The stocks position above the 10, 20, and 50-day EMAs signals that the short to medium-term trend remains bullish. However, longer-term EMAs (100 and 200-day) are below the current price, reaffirming the overall uptrend. The ADX value of 17.41 indicates that the trend is not very strong, and we might not see a clear directional move in the short term.

Resistance for the stock lies in the range of 7,400 to 7,500, while support is found around the 7,150 and 7,000 levels. This suggests a range-bound trading scenario, where price fluctuations are likely but within these levels. The ATR shows increased volatility, indicating that traders should be cautious of rapid price changes.

Overall, the stock appears to be consolidating. A breakout above 7,400 could drive the stock towards its 52-week high, but any price drop below 7,150 could indicate a potential reversal. Traders should focus on these key levels for any significant price action, while managing volatility risks effectively.