Strides Pharma Science Limited (STAR) Stock - Complete Technical Analysis - Oct 25, 2024

Strides Pharma Science Limited Technical Analysis STAR Stock Insights

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 today's technical analysis of Strides Pharma Science Limited, or STAR, we see the stock currently trading at 1,509, showing significant volatility over the past week. With a recent trading session opening at 1,550, hitting a low of 1,495.30, and closing at 1,508.85, there is a notable bearish sentiment present, especially as it closed lower than the previous day's close of 1,535.10.

Key support and resistance levels are crucial for traders. The immediate support level is around 1,495, while resistance is expected near the 1,598 mark. The stock trades about 9.92% below its 52-week high of 1,675, achieved on October 17, indicating downward pressure after a recent peak. However, it also shows a recovery, being 223.09% above its 52-week low of 467, from November 6, 2023.

Looking at technical indicators, the MACD reveals bullish momentum, suggesting potential upward movement if the trend persists. The RSI, sitting at 52.57, indicates that the stock is balanced between overbought and oversold conditions, offering room for both bullish and bearish movements. The ADX at 27.06 points towards a strong trend, urging caution for potential reversals.

Recent price trends indicate sharp surges and corrections, highlighting volatility. For example, on October 22, the stock opened at 1,635.10, reached a high of 1,670.95, and closed at 1,553.75, showcasing rapid movements that traders should monitor.

In summary, Strides Pharma Science Limited is in a volatile phase. Keep an eye on support at 1,495 and resistance at 1,598, utilizing MACD and RSI to identify potential trading opportunities.