Dodla Dairy Limited (DODLA) Stock - Complete Technical Analysis - Sep 27, 2024

Dodla Dairy Technical Analysis: Key Support & Resistance Levels Unveiled

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.

Dodla Dairy Limited (DODLA) is currently trading at 1183, representing a significant distance from its recent 52-week high of 1346.1 reached on July 22, 2024. The stock shows an upward trend, having risen 81.71% from its 52-week low of 651.25 on October 23, 2023, indicating strong bullish momentum in the medium to long term.

From a technical standpoint, the current price is 12.09% below the 52-week high, which signals potential resistance around that level. Key support is observed at the recent low of 1143.4, alongside the classic pivot support, emphasizing a strong buying zone should the stock retrace. The stock is also exhibiting an inside candle pattern, with 49 days of consolidation within the price range of 1346.1 and 1143.4. This indicates market indecision and could lead to a breakout in either direction, particularly as momentum builds.

Analyzing the indicators, the MACD is currently negative, indicating potential bearish pressure. The RSI, hovering around 44.54, suggests that DODLA is nearing oversold territory, while the Stochastic readings indicate a similar trend. Additionally, the ADX level of 28.99 suggests a strong trend may be in play, albeit with caution due to recent fluctuations. The Awesome Oscillator and Williams Percent Range both indicate potential bearish conditions, advising traders to be vigilant.

In summary, DODLA presents a mixed technical outlook. While short-term resistance remains a challenge, the support levels could offer buying opportunities. Traders should monitor the price action closely around the key levels discussed, using the MACD and RSI for potential entry and exit points. This careful analysis will be essential for making informed trading decisions.