Albert David Limited (ALBERTDAVD) Stock - Complete Technical Analysis - Oct 04, 2024

Albert David Limited Stock Analysis: Key Support & Resistance Levels, MACD & RSI Insights

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.

Albert David Limited (ALBERTDAVD) is currently trading at 1,611.45, which is below its 52-week high but significantly above its 52-week low, indicating strong upward momentum over the past year. The stock has been experiencing consolidation recently, with prices hovering around key moving averages. The 200-day EMA and SMA indicate a long-term bullish trend, with the stock trading well above these levels, showing strong support at lower levels.

In terms of momentum indicators, the RSI hovers around neutral territory, suggesting neither overbought nor oversold conditions, allowing room for further price action. However, the ADX signals a weak trend, suggesting the stock might be in a consolidation phase before deciding its next major move. MACD remains positive, indicating bullish momentum, though the Awesome Oscillator points to some bearish pressure. Short-term EMAs are converging near the current price, which aligns with a potential breakout or breakdown scenario.

Key support is found near the 1,470-1,480 range, marked by several moving averages, while resistance is near 1,700, close to its recent highs. Watch for price action around these levels for a potential trade setup. Stochastic and CCI indicate that the stock may see some consolidation or mild pullbacks in the short term. Given the mixed signals, traders should remain cautious and look for clearer breakouts or volume confirmation before taking large positions.