Apeejay Surrendra Park Hotels Limited (PARKHOTELS) Stock - Complete Technical Analysis - Oct 11, 2024

PARKHOTELS Stock Analysis Key Support & Resistance Levels Bearish Trend Reversal Ahead

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. Apeejay Surrendra Park Hotels Limited (PARKHOTELS) is currently trading at 158.91, which is 32.38% below its 52-week high of 235.0, signaling a bearish trend. However, it is also 8.47% above its 52-week low of 146.5, suggesting a potential support level around this range. Recent candlestick patterns such as the Doji and Spinning Top indicate market indecision, which is reinforced by low momentum, as seen from the Awesome Oscillator and MACD showing negative readings. This could imply that the stock is struggling to gain upward momentum.

The Relative Strength Index (RSI) of 37.79 indicates that the stock is nearing oversold territory, which could lead to a short-term recovery if buying pressure increases. The ADX at 17.6 suggests a weak trend, with no strong directional movement at the moment.

From a moving averages perspective, the stock is trading below its short-term and long-term EMAs and SMAs, signaling bearishness in the medium term. Key support levels can be identified around 155-162 based on recent lows and Fibonacci levels, while resistance could emerge around 165-170. Traders should watch for any reversal signals as the stock tests its support levels. If the Bullish Harami pattern materializes, it may trigger a recovery. However, the stock needs to break above key resistance levels and show stronger momentum to confirm a trend reversal.