Epigral Limited (EPIGRAL) Stock - Complete Technical Analysis - Oct 11, 2024

Epigral Limited Technical Analysis: Key Levels & Insights for Traders

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.

Today, Epigral Limited is trading at 2227.70, reflecting a 7.44% drop from its recent 52-week high of 2406.75, achieved on October 3, 2024. The stock's performance has been quite dynamic, currently sitting 155.44% above its 52-week low of 872.10, recorded on October 26, 2023.

In terms of technical indicators, the stock shows a moderately bullish stance. The Average Directional Index (ADX) is at 37.5, suggesting a strong trend, while the Relative Strength Index (RSI) is around 56.65, indicating that the stock is neither overbought nor oversold. However, a Bearish Harami pattern has formed recently, which may signal a potential reversal, as observed from the price movements today and yesterday.

Looking at the moving averages, the stock is currently above its 10-day and 20-day exponential moving averages, which stand at approximately 2201.67 and 2156.07, respectively. This upward positioning indicates positive short-term momentum. The Awesome Oscillator is at 106.3, supporting bullish momentum. However, the negative momentum reading from the Momentum indicator (-60.2) suggests caution for potential short-term pullbacks.

Analyzing price action over the past week reveals volatility, with recent highs reaching 2286.90 and lows around 2206.15, highlighting significant price swings. The Average True Range (ATR) of 128.65 indicates heightened volatility, emphasizing that traders should be prepared for rapid price movements.

Overall, while there is an underlying bullish trend, the formation of a Bearish Harami and the current negative momentum reading suggest that traders should closely monitor for a potential reversal, especially if the stock breaks below key support levels around 2200. Should the price stabilize and move past resistance near 2270, it may present a buying opportunity.

In conclusion, maintaining a balanced view between bullish and bearish signals while keeping an eye on support and resistance levels will be crucial for effective trading strategies in Epigral Limited.