Angel One Limited (ANGELONE) Stock - Complete Technical Analysis - Sep 05, 2024

Angel One Stock Analysis: Key Support, Resistance

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. Angel One Limited (ANGELONE) is currently trading at 2506.40, which is 35.67% below its 52-week high of 3896, indicating potential upside but also reflecting recent selling pressure. The stock is 47.00% above its 52-week low of 1705, showing resilience after bouncing off lower levels.

In terms of technical indicators, the RSI suggests that the stock is in neutral territory, signaling neither overbought nor oversold conditions. The ADX indicates moderate trend strength, meaning that while there is a trend, it may not be strong enough to drive sharp price movements in the short term. The MACD indicates bullish momentum, suggesting a potential upward crossover if the stock gathers strength.

The Awesome Oscillator reflects positive momentum, while the Williams %R and Stochastic %K indicate mild bearishness, with some short-term weakness likely. The stock is hovering around its 100- and 200-day exponential moving averages, signaling that this level may serve as critical support. Meanwhile, moving averages are showing mixed signals, with shorter-term EMAs above the price, pointing to possible downward pressure, but the longer-term SMAs suggest the possibility of an uptrend resuming soon.

Chart patterns also reflect some caution, with the Bearish Engulfing pattern suggesting near-term selling pressure, which traders should monitor closely. The ATR indicates moderate volatility, suggesting that while the stock may experience fluctuations, extreme price swings are less likely.

On the downside, the support level is around the 2435 mark, with resistance near 2662, where short-term rallies may face selling pressure. Traders should look for a breakout above resistance for further upside or a breakdown below support to reassess their positions.

Overall, the stock is showing mixed signals, with some bullish indicators pointing toward an upward movement, while others suggest caution due to short-term bearishness. Traders should keep an eye on key support and resistance levels to navigate potential price movements effectively.