Apollo Tyres Limited (APOLLOTYRE) Stock - Complete Technical Analysis - Nov 08, 2024

Apollo Tyres Stock Analysis: Key Support & Resistance Levels, Trend Insights APOLLOTYRE Tech Revi

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. APOLLOTYRE is experiencing moderate consolidation as technical indicators show mixed signals. The stocks current price of 491 places it below the 50-day SMA, highlighting a bearish pressure in the near term. RSI near 44 signals mild oversold conditions, though still not yet in a reversal zone, while MACD remains negative, indicating the stock is under continued selling pressure. The Awesome Oscillator also shows negative momentum, supporting the bearish outlook. Stochastic readings show the stock nearing mid-levels without strong directional strength, which, coupled with ADX at 17, implies weak trend strength.

Investors may want to watch for reversals near the 470 support level if the stock continues its downward path. Resistance around the 510 zone suggests a ceiling, with the 20-day SMA and multiple pivot indicators aligning near this level. Short-term moving averages also show bearish crossover patterns, indicating that APOLLOTYRE is struggling to regain upward momentum. Traders could watch for a break of either 470 for downside momentum or a breach above 510 for potential bullish reversal confirmation.