Apeejay Surrendra Park Hotels Limited (PARKHOTELS) Stock - Complete Technical Analysis - Nov 14, 2024

Apeejay Surrendra Park Hotels Limited (PARKHOTELS) Stock Analysis Support, Resistance, & Trend In

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. PARKHOTELS stock is showing signs of consolidation after a period of sharp declines. With the stock currently trading at 146, it remains significantly lower than its 52-week high, down by 37.88%. It has been testing the lower support zone near 144-145, and with the RSI reading at 37.8, it's nearing the oversold range, indicating that a rebound is possible if this level holds. However, the MACD value at -3.23 confirms that the stock remains in a downtrend, and theres strong resistance around 154.

If the stock bounces off the support zone, traders should watch for a potential rally to the 154 resistance level. A breakout above 154 could trigger a shift toward a bullish trend, with the next target being around 160. On the flip side, a break below the 144 level could send the stock into further weakness, possibly heading towards the 140 zone. The ATR indicator suggests that the stocks volatility is moderate, and price movement is likely to remain range-bound unless a significant event causes a break from this pattern.

For those looking to trade, keep an eye on the support level of 144-145 for a potential bounce or reversal. A decisive move beyond 154 could suggest a change in the trend direction.