Tasty Bite Eatables Limited (TASTYBITE) Stock - Complete Technical Analysis - Oct 11, 2024

Tasty Bite Eatables Stock Analysis: Trends, Support & Resistance Levels Explained

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.

Technical Analysis for Tasty Bite Eatables Limited (TASTYBITE)

As of October 11, 2024, Tasty Bite Eatables Limited is trading at 12,975.35, which is approximately 26.18% below its 52-week high of 17,575.85 and 42.59% above its 52-week low of 9,100.00.

Support and Resistance Levels

Immediate Support Levels:

S1: 12,000

S2: 11,341

S3: 9,507

Immediate Resistance Levels:

R1: 13,834

R2: 15,009

R3: 16,843

Recent Price Action

The stock exhibited an inside candle pattern on October 10, 2024, indicating potential indecision in the market. The parent high and low for this pattern were 13,583.95 and 12,274.75, respectively, with the stock trading within this range for two days.

Last 5 Days Open-High-Low-Close Values:

Oct 11, 2024: Open: 13,220, Low: 12,850, High: 13,367, Close: 12,975.35

Oct 10, 2024: Open: 12,589.95, Low: 12,274.75, High: 13,583.95, Close: 13,199.65

Oct 9, 2024: Open: 12,234.10, Low: 12,202.35, High: 12,579.95, Close: 12,367.40

Oct 8, 2024: Open: 11,872.25, Low: 11,650, High: 12,376.50, Close: 12,221.15

Oct 7, 2024: Open: 12,598.75, Low: 11,702.35, High: 12,668, Close: 11,802.75

Volatility and Reversal Patterns

Sudden Price Drops/Surges: A noticeable surge occurred on October 10, where the stock reached a high of 13,583.95, following a low of 12,274.75 just the previous day. This volatility is significant and suggests the potential for both upward and downward reversals.

Price Trends: The stock has shown signs of a bullish trend following its recovery from the 52-week low, making a notable bounce back towards the 13,000 level.

Gaps in Price: There were no significant gaps identified in the recent price action, indicating a relatively stable trading pattern.

Technical Indicators Overview

MACD: Bearish signal, indicating potential downward momentum.

RSI: Indicates neutral strength, hovering around the midpoint.

ADX: Suggests a weak trend; market participants should watch for potential breakouts or reversals.

Stochastic Oscillator: Indicates overbought conditions, suggesting caution for bullish trades.

Volume Indicators: Recent volume trends suggest consolidation, with no major surges in interest.

Conclusion

In summary, Tasty Bite Eatables Limited is navigating through a mixed technical landscape. The support and resistance levels provide critical thresholds for traders. Investors should monitor the stock closely for potential breakouts above resistance or reversals near support. Given the current indicators, a cautious approach is advisable.