Allcargo Gati Limited (ACLGATI) Stock - Complete Technical Analysis - Nov 01, 2024

Allcargo Gati Limited (ACLGATI) Stock Analysis: Key Support, Resistance, and Technical Trends

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. ACLGATI is trading just above its 52-week low, showing recent resilience at the 100 mark. The stocks MACD and momentum indicators remain bearish, suggesting caution for any immediate bullish moves. The ADX value at 21.66 points to weak trend strength, aligning with the neutral RSI (45.23), which indicates neither buying nor selling is particularly dominant. The Awesome Oscillator and negative Bull Bear Power reinforce this perspective, hinting that sellers still hold some control, though it may be waning.

A Bullish Harami pattern has emerged, offering potential signs of a short-term reversal. Key resistance is positioned at 109.87, which, if crossed, could indicate bullish momentum toward the next resistance at 122.26. The 89.43 support level, on the other hand, remains critical; a drop below this may drive further declines. ACLGATIs price lies under crucial moving averages, including the EMA 20 and SMA 200, indicating that sustained buying interest is yet to emerge. The ATR suggests moderate price fluctuations, making it suitable for traders seeking stability. Overall, waiting for a confirmed trend direction, potentially indicated by an RSI uptick or a crossover in MACD, may provide clearer entry points.