Basilic Fly Studio Limited (BASILIC) Stock - Complete Technical Analysis - Nov 04, 2024

Basilic Fly Studio Limited (BASILIC) Stock Analysis: Key Levels and 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 this analysis of Basilic Fly Studio Limited, currently priced at 378, we see a robust stock with a P/E ratio of 24.3, indicating reasonable valuation despite no dividends at this time. The company's fundamentals shine with a ROCE of 64% and an impressive ROE of 47.8%, reflecting strong operational performance.

Technically, the stock presents a mixed picture. The ADX is high at 49, signaling a strong trend. However, the RSI at 36 indicates oversold conditions, suggesting potential for an upward movement. The Stochastic %K is also low, supporting the idea of a bounce back.

The stock is trading below significant moving averages, with the 10-period EMA at 385.22 and the 20-period EMA at 401.41, which could act as immediate resistance levels. The classic pivot point at 402.57 is another critical level to monitor. Conversely, the support level can be pinpointed at 339.13, reinforcing this with recent trading lows.

Recent trading data reveals slight price drops, indicative of market volatility, and traders should stay alert for gaps and sudden price movements. In summary, while BASILIC has strong fundamentals, cautious traders should keep an eye on key support and resistance levels to make informed trading decisions.