Apollo Micro Systems Limited (APOLLO) Stock - Complete Technical Analysis - Aug 30, 2024

Apollo Micro Systems Stock Analysis: Key Support

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 Micro Systems Limited (APOLLO) is currently trading at 104, showing a significant decline from its 52-week high of 161.7, down by 35.37%. However, the stock is up by 98.67% from its 52-week low of 52.6, indicating a strong recovery potential.

The technical indicators suggest a bearish trend. The RSI is near the oversold zone, indicating a potential for a reversal, but the low ADX shows a lack of strong trend momentum. The MACD is in negative territory, reflecting bearish sentiment. The Stochastic indicators and Williams Percent Range are deep in the oversold region, suggesting the stock may be due for a short-term bounce.

The moving averages provide a mixed picture. The stock is trading below its short-term EMAs (10, 20, 30), indicating bearishness, but it's slightly above the 200-day EMA, suggesting some support at this level. The SMAs also confirm this, with the stock trading below the shorter-term SMAs but above the 200-day SMA, pointing to possible support around 103-104 levels.

Support levels are identified at 105.64 (Classic Pivot S1) and 92.03 (Classic Pivot S2). If the stock breaches the 104 level, it could find strong support at the 92 level. On the upside, resistance levels are at 117 (Classic Pivot P) and 130.62 (Classic Pivot R1). A break above these levels could lead to a rally towards 141.99 (Classic Pivot R2) and beyond.

Overall, the stock appears to be in a consolidation phase with a bearish bias. Traders should watch for a breakout above the resistance levels or a breakdown below the support levels to determine the next move.