Jubilant Foodworks Limited (JUBLFOOD) Stock - Complete Technical Analysis - Oct 08, 2024

Jubilant Foodworks Stock Analysis Key Support & Resistance Levels Buy Now

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.

Jubilant Foodworks Limited (JUBLFOOD) is currently trading at 615.40, showing signs of weakness with indicators suggesting bearish momentum. The stock is 13.98% below its 52-week high of 715.45 and 46.16% above its 52-week low of 421.05, highlighting potential volatility in the price.

Key technical indicators reflect bearish sentiment. The RSI is near the oversold region, indicating potential buying opportunities if downward pressure persists. ADX suggests a moderately strong trend, but with MACD in the negative zone and Momentum also showing weakness, the stock might continue to face pressure in the short term. The Awesome Oscillator and Williams %R also confirm this negative momentum.

Both Exponential and Simple Moving Averages over various periods (10, 20, 30, etc.) indicate that the stock is trading below key averages, particularly the 10-day and 20-day, which act as resistance zones near 650. This could signal further downside unless it breaks past these levels. The recent Spinning Top and Doji patterns indicate indecision, and we could see a sharp move in either direction soon. However, the stock's price staying below the Ichimoku Base Line and moving averages hints at bearish pressure.

Support is currently seen around 604610, and a break below this could lead to a retest of lower support near 580. Resistance is likely around the 650670 level, and any move beyond this could indicate a reversal. Traders should watch for a shift in momentum as indicators like RSI and MACD could offer early signs of recovery or further decline.