Apollo Tyres Limited (APOLLOTYRE) Stock - Complete Technical Analysis - Sep 18, 2024

Apollo Tyres Stock Analysis Key Levels & Indicators for Traders APOLLOTYRE Technical Outlook

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 Tyres Limited (APOLLOTYRE) is currently trading at 511, showing some consolidation just below its 52-week high of 568.05, which suggests potential upward momentum if the stock breaks key resistance levels. The Relative Strength Index (RSI) indicates a neutral position, showing neither an overbought nor oversold condition, which implies the stock could move either way depending on market conditions. Meanwhile, the ADX points to a weak trend, meaning there isn't a strong directional movement at present. The Moving Averages indicate mixed signals, with short-term EMAs and SMAs hovering around the current price, which suggests a lack of strong momentum in the near term. However, the stock is still trading well above its 52-week low of 365, reflecting longer-term strength.

On the momentum side, indicators like the Stochastic and Awesome Oscillator suggest some bullish activity, but the Williams Percent Range is in the middle range, indicating caution. The MACD is slightly positive, but it lacks the strength to predict a significant rally at this point. Traders should look for a breakout above the resistance around 520-525 for potential upside, while the immediate support levels are around 490-495. If the stock breaks below these levels, we could see it heading towards the 460 range. Given the current technicals, the stock may consolidate in the short term, and a clear breakout or breakdown will dictate the next strong move.