Indraprastha Medical Corporation Limited (INDRAMEDCO) Stock - Complete Technical Analysis - Sep 02, 2024

Indraprastha Medical (INDRAMEDCO) Stock Analysis: Key Levels, Indicators

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. Indraprastha Medical Corporation Limited (INDRAMEDCO) presents an intriguing technical profile. Currently trading at 419.90, the stock is approximately 1.43% below its 52-week high of 423.0, set on August 23, 2024. This high represents a notable surge of 181.81% from its 52-week low of 149.0, also recorded on August 23, 2024.

In terms of technical indicators, the stock is showing robust strength. The MACD is positive, indicating bullish momentum, while the RSI is in the overbought zone, suggesting potential caution for short-term traders. The ADX is quite strong, signaling a solid trend, and the Stochastic %K is also high, reinforcing the overbought condition.

Looking at moving averages, the stock is above both its short-term and long-term averages. The 10-day EMA is at 384.78, and the 200-day EMA stands at 236.66, showing that the stock has been consistently trending upward. The Simple Moving Averages also support this bullish trend, with the 10-day SMA at 387.28 and the 200-day SMA at 228.09.

Pivot points further illustrate the stock's current positioning. The Classic Pivot Point is at 353.37, with resistance levels at 456.38, 517.02, and 680.67, while support levels are at 292.73, 189.72, and 26.07. Camarilla pivots suggest resistance at 410.75 and support at 365.75, with Fibonacci levels showing resistance at 415.88 and support at 290.85.

The Average True Range (ATR) indicates moderate volatility, which is important for assessing potential price swings. The Hull Moving Average is at 404.11, suggesting that short-term price movements could still align with the prevailing uptrend.

Overall, INDRAMEDCO is in a strong uptrend but is trading near overbought levels, so traders should watch for any signs of reversal or consolidation near the resistance levels.