UPL Limited (UPL) Stock - Complete Technical Analysis - Sep 18, 2024

UPL Limited Technical Analysis: Bullish Trends and Key Support & Resistance Levels

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. Technical Analysis of UPL Limited (UPL)

As of the latest data, UPL Limited is trading at 605. The stock is currently experiencing a mixed technical outlook.

Support and Resistance Levels: The immediate support level is around 544.23, with further support at 490.12 and 406.12. Resistance is initially at 628.23, followed by 658.12 and a higher resistance at 742.12.

Moving Averages: The stock is trading above its short-term moving averages, with the current price at 605 compared to the 10-day SMA of 611.89 and the 20-day SMA of 599.80. It is also above the 30-day SMA of 585.11 and significantly above the 200-day SMA of 536.03, indicating a bullish trend.

Technical Indicators:

MACD: The MACD line is above the signal line, suggesting bullish momentum.

RSI: The Relative Strength Index (RSI) is around 57.19, indicating that the stock is neither overbought nor oversold but approaching the upper threshold.

ADX: The Average Directional Index (ADX) is high at 31.74, showing a strong trend.

Stochastic Oscillator: The Stochastic %K is at 70.62, suggesting the stock may be in an overbought condition, while the Stochastic RSI is at 14.97, indicating potential for reversal.

Commodity Channel Index (CCI): At 34.36, the CCI is neutral but leaning towards a bullish sentiment.

Awesome Oscillator: With a reading of 31.13, this indicates positive momentum.

Williams %R: At -44.6, it suggests that the stock is nearing overbought conditions.

Chart Patterns: The stock has shown resilience and maintains above its moving averages, which is a positive sign. However, traders should watch for potential pullbacks towards support levels if the stock faces selling pressure.

Volatility: The Average True Range (ATR) indicates moderate volatility. Recent ATR readings suggest that price swings are significant, and traders should be prepared for fluctuations.

In summary, UPL Limited is displaying a bullish trend supported by positive moving averages and MACD readings. However, given the high RSI and Stochastic %K, the stock might be nearing overbought territory, and traders should keep an eye on potential corrections towards support levels.