AstraZeneca Pharma India Limited (ASTRAZEN) Stock - Complete Technical Analysis - Oct 17, 2024

AstraZeneca Pharma Stock Analysis: Key Support, Resistance & Chart Patterns

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. AstraZeneca Pharma India Limited (ASTRAZEN) is trading around 7,627, which places it well above its 52-week low but still slightly below its recent high. Technical indicators, such as the RSI at 55, reflect neutral momentum. The MACD signals bullish momentum, while the ADX shows a moderately strong trend. Recent patterns like the "Doji" and "Spinning Top" indicate indecision, suggesting traders might see increased volatility or a potential trend shift soon. With an "Inside Candle" pattern formed between 8,139 and 7,440, traders should look for breakouts in either direction to spot trading opportunities. Support is seen at 7,500, with resistance near 7,800. Moving averages offer mixed signals, with short-term moving averages indicating a slight pullback, while long-term trends remain positive. Watch for price movement above key resistance levels or below support for actionable trades.