AstraZeneca Pharma India Limited (ASTRAZEN) Stock - Complete Technical Analysis - Sep 19, 2024

AstraZeneca Pharma Stock Analysis Support & Resistance Levels ASTRAZEN Trading 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. AstraZeneca Pharma India Limited (ASTRAZEN) is currently showing signs of indecision, with a spinning top candle formation, indicating market uncertainty. The stock is trading at 6716.25, which is 11.30% below its 52-week high but significantly above its 52-week low. The RSI suggests the stock is in a neutral zone, lacking significant momentum either way, while the ADX reflects a weak trend, showing limited directional strength. The MACD is slightly negative, indicating potential bearishness, which is supported by the bearish Awesome Oscillator and Bull Bear Power. The Momentum indicator is showing a declining trend, further hinting at short-term weakness. Key support levels can be found near the 6500 range, with resistance around 6800, a critical zone to watch for bullish reversals. The stock is hovering around its 50-day moving averages, indicating a sideways movement in the near term. Traders should be cautious of the Doji pattern, as it highlights indecision, making the next few trading sessions crucial for a clearer market direction. Watching for a breakout above resistance could signal bullish momentum, while a break below support could trigger a further downside.