Allcargo Logistics Limited (ALLCARGO) Stock - Complete Technical Analysis - Oct 25, 2024

Allcargo Logistics Ltd (ALLCARGO) Technical Analysis: Potential Reversal or Continuation

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. The technical outlook for Allcargo Logistics (ALLCARGO) reveals potential buy signals amid overall weakness. The RSI at 24.79 places it in oversold territory, hinting at possible reversal opportunities. However, the MACD remains in bearish territory, reflecting ongoing selling pressure. The stocks ADX trend strength and its position below short and long-term moving averages confirm the downward trends momentum, while the Ultimate Oscillator suggests limited upside unless buying interest strengthens.

Current support appears around 54, aligning closely with recent lows, where a hold could stabilize the stock. If selling pressure resumes, look for a drop toward lower pivot levels. Resistance around the 61 level aligns with the 50-day EMA, potentially challenging any breakout attempts. Overall, conservative investors might wait for clearer uptrend confirmation, while aggressive traders could capitalize on short-term oscillations, particularly if ALLCARGO maintains oversold levels with improved volume.