Thyrocare Technologies Limited (THYROCARE) Stock - Complete Technical Analysis - Nov 14, 2024

Thyrocare Technologies Technical Analysis Price Levels, Support & Resistance Stock 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. Thyrocare Technologies Limited (THYROCARE) stock is currently trading at 977, just 2.69% below its 52-week high of 1003.55. The stock has demonstrated impressive growth since its 52-week low of 533.5, rising by 83.05%. This performance showcases its strong bullish momentum and resilience in the market.

Looking at the technical indicators, the Relative Strength Index (RSI) at 62.53 suggests that the stock is still in a bullish phase, with room for further growth without being in overbought territory. The Stochastic Oscillator's %K at 68.57 indicates upward movement, supporting the bullish momentum. The MACD is also in a favorable position, with the line above the signal line, pointing to positive momentum.

The Average Directional Index (ADX) at 23.42 signals a strengthening trend, though it's not yet showing an extreme trend, which could allow the stock to maintain its upward movement. The Exponential Moving Averages (EMAs), particularly the 50-day and 200-day, act as solid support levels, with values of 889.67 and 757.7, respectively, suggesting a stable base for any pullbacks.

Volatility is moderate, with an Average True Range (ATR) of around 230, indicating some price swings but no extreme fluctuations. Recent price action has shown that 1000 is a key resistance level, as the stock has tested this area several times. If it breaks above 1000, the next resistance zone is expected around 10501075. On the downside, support levels near 960950 are important, as the stock has found support in these regions recently.

In summary, Thyrocare Technologies is in a strong technical position, with solid bullish momentum and support at key levels. Traders should monitor the 1000 resistance level for potential breakouts, and any dips to the 950960 range could present buying opportunities.