S. P. Apparels Limited (SPAL) Stock - Complete Technical Analysis - Sep 02, 2024

S. P. Apparels Limited (SPAL) Stock Analysis: Key Support, Resistance

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. Technical Analysis of S. P. Apparels Limited (SPAL)

S. P. Apparels Limited is currently trading at 856. The stock has a Price-to-Earnings ratio of 23.2, indicating moderate valuation relative to its earnings. The book value stands at 304, with a dividend yield of 0.35%. Key financial ratios include a Return on Capital Employed (ROCE) of 14.6% and a Return on Equity (ROE) of 12.5%.

Technical Indicators:

MACD: The MACD is currently positive, suggesting bullish momentum.

RSI: The Relative Strength Index is around 46.81, indicating the stock is neither overbought nor oversold, but leaning towards neutral.

ADX: The Average Directional Index shows a strong trend with a reading of 28.78.

Stochastic %K: At 34.47, the stock is showing signs of potential upward momentum but remains below the overbought threshold.

Stochastic RSI: The Stochastic RSI is at 0.0, suggesting a deeply oversold condition.

Awesome Oscillator: With a positive reading of 4.95, this indicates a bullish trend.

Williams Percent Range: The stock is in the oversold zone at -81.82.

Moving Averages:

Short-term Averages: The stock is below its short-term Simple Moving Averages (SMA) of 10, 20, and 30 days, which are around 890.05, 892.56, and 881.43 respectively.

Medium to Long-term Averages: The Exponential Moving Averages (EMA) show a similar trend. The stock is below the 10-day EMA of 883.47 and the 20-day EMA of 881.04 but is above the 50-day EMA of 830.69.

Pivot Points:

Classic Pivot: The stock is trading below the Classic Pivot Point of 928.87, suggesting potential bearish sentiment.

Support Levels: Key support levels include 724.63 (S1), 576.77 (S2), and 224.67 (S3).

Resistance Levels: Major resistance levels are at 1076.73 (R1), 1280.97 (R2), and 1633.07 (R3).

Volatility and Trend:

ATR: The Average True Range indicates increasing volatility with recent values around 107.52, signaling significant price swings.

Volume Weighted Moving Average: The VWMA is at 946.11, and the stock is trading below this average, which may suggest weakening buying interest.

Chart Patterns:

Ichimoku Base Line: The stock is below the Ichimoku Base Line of 957.05, reflecting bearish pressure.

Hull Moving Average: Trading below the Hull Moving Average of 867.04 also suggests a bearish trend.

Overall, S. P. Apparels Limited exhibits a mixed technical picture. While there are some bullish indicators like MACD and Awesome Oscillator, the stock is trading below key moving averages and pivot points, indicating potential resistance and bearish sentiment. Traders should monitor for signs of reversal and potential entry points if the stock shows improvement in these indicators.