Affle (India) Limited (AFFLE) Stock - Complete Technical Analysis - Sep 19, 2024

Affle India Stock Analysis: Is It Time to Buy or Wait Key Support & Resistance Levels Explained

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.

Affle (India) Limited (AFFLE) is currently trading at 1528, which is approximately 10.85% below its 52-week high and 54.73% above its 52-week low. The stock's technical indicators suggest a period of consolidation with mild bearish signals. The RSI stands in the mid-range, indicating that the stock isn't overbought or oversold, but with a downward bias. The MACD shows weak momentum with a slight bearish crossover, while the ADX suggests the current trend isn't very strong, indicating that the stock may continue moving sideways in the near term.

The Stochastic Oscillator reflects oversold conditions, and the Williams %R further supports this, pointing towards potential short-term buying opportunities. However, the overall negative readings from the Awesome Oscillator and CCI highlight persistent downward pressure. The stock is trading below its 10-day and 20-day EMA, signaling short-term bearish sentiment, but support exists around the 1500 level. On the upside, resistance is expected near 1600, where multiple moving averages converge.

Given the lack of a strong trend as shown by the ADX, traders may want to wait for clearer signals before entering a position. Key support levels include 1460 and 1400, while breaking above 1600 could signal a recovery toward its recent highs.