Alembic Pharmaceuticals Limited (APLLTD) Stock - Complete Technical Analysis - Nov 08, 2024

Alembic Pharmaceuticals Limited (APLLTD) Stock Analysis Support, Resistance & Indicators Explaine

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. Alembic Pharmaceuticals Limited (APLLTD) is currently trading at 1,038, significantly below its 52-week high, showing a pullback from recent highs. Recent price actions have displayed fluctuations, with prices reaching highs near 1,094 and lows at 1,032.55 in the past few sessions. The stock is currently experiencing consolidation, as shown by the ADX value of 15.19, suggesting a weak trend. However, with RSI at 35.65, the stock is nearing oversold territory, signaling a potential buying opportunity if it reverses.

The negative MACD further indicates that the stock might face bearish pressure in the near term. For traders, the critical support level is around 1,003, with the next resistance at 1,153. A breakout above resistance could signal a bullish trend, while a breakdown below support might indicate further downside potential. The ATR (average true range) suggests that volatility is rising, so expect price swings. The moving averages and volume weighted moving average are still indicating a bearish short-term trend.

In conclusion, APLLTD offers an interesting potential for a rebound if it breaks resistance, but until then, it remains in a consolidation phase with both support and resistance levels clearly outlined. Traders should monitor these levels closely.