Max Healthcare Institute Limited (MAXHEALTH) Stock - Complete Technical Analysis - Oct 23, 2024

Max Healthcare Technical Analysis: Key Levels and Trends You Must Know

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. In this technical analysis of Max Healthcare Institute Limited, currently priced at 914, we observe the stock trading below its 52-week high of 1118, reflecting an 18% drop, yet it remains 69.72% above its 52-week low of 538. Recent trading activity showcases significant volatility, with today's opening at 899.05, a high of 924.95, and a closing price of 914.20, suggesting resistance around 925.

Key indicators reveal that the Average Directional Index (ADX) is at 20.05, indicating a trendless market, while the Relative Strength Index (RSI) points to potential oversold conditions, hinting at possible upward momentum. The Stochastic Oscillator aligns with this sentiment, as values are below 40, indicating a potential bullish reversal.

Moreover, the MACD remains negative, reinforcing the current bearish trend. However, the Ultimate Oscillator is nearing neutrality, suggesting the possibility of a trend reversal in the near future.

Examining recent price trends, the stock has shown a clear bearish movement from the recent highs around 961. Important levels include support near 858 and resistance at 925, with the 100-day EMA at 904.15 acting as a crucial line in the sand. A move below this level could indicate further declines.

In conclusion, while the stock exhibits volatility, its essential for traders to exercise caution. Key levels to observe are the support at 858 and resistance at 925, as well as broader market trends, before committing to trades.