Apollo Tyres Limited (APOLLOTYRE) Stock - Complete Technical Analysis - Oct 16, 2024

Apollo Tyres Stock Analysis: Key Support & Resistance Levels Technical Breakdown

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 Tyres Limited (APOLLOTYRE) is currently priced at 518.80, displaying indecision following a spinning top candle pattern. With the stock trading 11.3% below its 52-week high of 584.9 and 40.94% above its 52-week low of 368.1, investors should watch for both bullish and bearish moves. The RSI is neutral at 50.56, while the ADX shows weak trend strength at 14.96. Bearish momentum is confirmed by the MACD being negative, though short-term EMAs are near current levels, pointing to possible sideways movement.

Key support is seen around 510, and resistance is placed at 538. The Awesome Oscillator is negative, indicating bearish sentiment, but with the Stochastic in the oversold zone, there could be a short-term bounce opportunity. Traders should watch for any decisive price moves above 538 to confirm bullish strength, or below 510 for further downside risk.