Apollo Hospitals Enterprise Limited (APOLLOHOSP) Stock - Complete Technical Analysis - Oct 14, 2024

Apollo Hospitals Stock Analysis Key Support & Resistance Levels Trading Strategy

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. Apollo Hospitals Enterprise Limited (APOLLOHOSP) is currently trading at 7,093, near its recent high of 7,316.95, showing a strong uptrend over the past few weeks. The stock is well above its 52-week low of 4,726, highlighting significant strength and momentum. The RSI suggests the stock is moderately bullish but not yet overbought, indicating potential room for upward movement. The ADX signals a trend in progress, though it's relatively mild, while MACD remains positive, supporting the bullish sentiment.

In terms of moving averages, APOLLOHOSP is trading above both its 50 and 100-day EMAs, further confirming the bullish momentum. However, it's worth noting that the stock is encountering resistance around 7,100, with multiple rejections at this level over recent sessions. Support can be seen around the 6,800 mark, which has held firm in previous pullbacks.

There is a notable gap between the current price and the 200-day EMA, suggesting a strong longer-term trend. Volatility is evident, as seen in the ATR data, meaning traders should be cautious of sudden price swings. A breakout above the 7,100 level could trigger a sharp move towards higher resistance points. However, any failure to sustain above this level might result in a pullback to the 6,900 range. Overall, the stock remains attractive in a bullish scenario, but traders should keep an eye on key resistance and support levels to confirm their strategies.