Tasty Bite Eatables Limited (TASTYBITE) Stock - Complete Technical Analysis - Oct 21, 2024

Tasty Bite Eatables Limited: In-Depth Technical Analysis & Future Outlook

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)

Current Price: 12,837

52-Week High: 16,920.45

52-Week Low: 9,100.00

Support and Resistance Levels:

Immediate Support: 12,775

Support Level 1: 12,451.50

Immediate Resistance: 13,225.40

Resistance Level 1: 13,190

Key Observations:

Price Trends:

Recent price action indicates a downward trend, evidenced by the stock's inability to maintain higher levels. The Bearish Engulfing pattern supports this view.

Sudden Price Drops/Surges:

The stock exhibited a sharp decline from 13,190.00 to the current price, suggesting increased selling pressure.

Gaps in Price:

A significant gap was created between the high of 13,190.00 and the low of 12,775.00, marking key resistance and support levels.

Volatility and Reversals:

With ATR reflecting high volatility, traders should be cautious of abrupt price movements. The potential for a reversal exists if the stock can maintain support above 12,775.

Technical Indicators:

MACD: Reflects a weakening bullish trend.

RSI: Neutral, indicating indecision in the market.

ADX: Below 20, signaling a lack of trend strength.

Conclusion:

TASTYBITE's current trading environment shows bearish tendencies with established support and resistance levels. Monitoring these indicators will be crucial for investors seeking potential entry or exit points.