Astral Limited (ASTRAL) Stock - Complete Technical Analysis - Nov 08, 2024

Will Astral's Downtrend Reverse Technical Analysis & Key Levels Explained

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. Astral Limited has been experiencing increased volatility, with a current price of 1,789, trending close to its recent lows. The Stochastic RSI is high at around 91, hinting at a possible reversal, but with MACD levels remaining bearish, downward momentum still dominates. ADX above 42 further supports the strength of the current downtrend. Astral's EMA and SMA levels reveal the stock is under pressure, with short-term EMAs acting as immediate resistance and the 200-day EMA far above, reinforcing a bearish outlook.

Indicators such as Awesome Oscillator and Bull Bear Power both indicate weak buying pressure, showing bears have a strong hold. Short-term support is around 1,745, while resistance is likely at the 1,835 level, aligning with the Classic pivot. Momentum shows a downturn, with ATR values reflecting heightened volatility, signaling potential price swings. Traders should watch for any price movement above the 1,800 range, as it could suggest the start of a recovery, but until then, the bearish trend remains intact.