Allcargo Terminals Limited (ATL) Stock - Complete Technical Analysis - Sep 02, 2024

Allcargo Terminals Limited (ATL) Technical Analysis Is a Trend Reversal Near Partha Kuchana

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. Let's dive into the technical analysis of Allcargo Terminals Limited (ATL) stock. Currently, ATL is trading at 48.55, significantly below its 52-week high of 82.5, which suggests the stock has been under selling pressure. However, it is trading well above its 52-week low of 31.3, indicating a recovery phase.

Analyzing the moving averages, ATL is trading below the 10, 20, 30, 50, 100, and 200-day Exponential Moving Averages (EMAs), and below the Simple Moving Averages (SMAs) as well. This signals a bearish trend in the short to long term, as the price is below these key levels. The Relative Strength Index (RSI) stands at 44.83, showing that the stock is nearing the oversold territory but not quite there yet, suggesting cautious buying might emerge. The Average Directional Index (ADX) at 20.2 indicates a weak trend, meaning the stock is not in a strong directional move.

The MACD is at 0.0, showing a lack of momentum and suggesting that the stock could go either way depending on upcoming market conditions. The Awesome Oscillator is slightly positive at 0.56, showing minimal bullish sentiment. Meanwhile, the Williams Percent Range at -59.92 and the Ultimate Oscillator at 32.01 confirm that the stock is more inclined towards a bearish sentiment but not at extreme levels.

The stock has formed a Bearish Engulfing pattern, which is typically a bearish reversal signal. This pattern, combined with the downward momentum observed in other indicators like the Stochastic Oscillator, which is at 49.44, suggests that further downward pressure might be expected.

Key support levels to watch are around the Fibonacci Pivot S1 at 45.88 and the Classic Pivot S1 at 44.88. If the stock breaks these levels, it could head towards the Fibonacci Pivot S2 at 43.48 or even the Classic Pivot S2 at 39.59. On the upside, resistance is noted at the Fibonacci Pivot R1 at 53.66 and the Classic Pivot R1 at 55.06. If the stock manages to break through these resistances, it might head towards the Classic Pivot R2 at 59.95, but given the current market conditions, this seems less likely.

In conclusion, ATL appears to be in a bearish phase with weak momentum. Traders should watch for any signs of reversal near the support levels or confirmation of a continued downtrend.