Zota Health Care LImited (ZOTA) Stock - Complete Technical Analysis - Sep 13, 2024

Zota Health Care (ZOTA) Stock Analysis: Key Support, Resistance & Technical 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.

Let's dive into the technical analysis of Zota Health Care Limited (ZOTA) stock.

Current Price: 668

52-Week High: 725.05

52-Week Low: 372.00

ZOTA's current price is trading 7.92% below its 52-week high, indicating it is in a consolidation phase after reaching its peak. It's also 79.48% above its 52-week low, showcasing significant upward momentum over the past year.

Support and Resistance Levels:

Immediate Support: Around 649.83 (Camarilla S1) and 599.15 (Classic S1)

Immediate Resistance: Around 672.77 (Camarilla R1) and 724.25 (Classic R1)

Moving Averages:

Short-Term: The stock is trading below the 10-period and 20-period Simple Moving Averages (SMA) but above the 30-period SMA, indicating a potential short-term resistance around the 10 and 20 SMA levels.

Long-Term: The stock is comfortably above the 50-period, 100-period, and 200-period Simple Moving Averages, showing a long-term uptrend.

Technical Indicators:

MACD: The MACD line is positive, indicating bullish momentum, though it is crucial to watch for potential crossovers.

RSI: The Relative Strength Index (RSI) is around neutral territory at 52.46, suggesting neither overbought nor oversold conditions.

ADX: The Average Directional Index (ADX) is high, signaling a strong trend, but the trend direction needs to be confirmed with additional indicators.

Stochastic Indicators: The Stochastic %K is at 30.33, indicating a potential bullish reversal if it moves higher. Stochastic RSI is low at 18.99, suggesting the stock may be oversold.

CCI & Awesome Oscillator: The Commodity Channel Index (CCI) is neutral, while the Awesome Oscillator is positive, indicating bullish momentum.

Williams %R: The Williams Percent Range is at -69.97, reflecting a potential oversold condition.

Chart Patterns and Observations:

The stock has recently bounced off its 50-period Moving Average, suggesting this level is a strong support.

Watch for potential breakout opportunities if the stock moves above the immediate resistance levels.

In summary, ZOTA shows a solid long-term uptrend with some short-term resistance. Traders should watch for breakouts above resistance levels and potential support retests.