Astral Limited (ASTRAL) Stock - Complete Technical Analysis - Nov 19, 2024

Astral Limited Technical Analysis: Key Support, Resistance & Trends 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 (ASTRAL) displays bearish signals as it trades close to its 52-week low at 1729.15. Recent price action reveals mixed signals: while the bearish Shooting Star indicates downward pressure, the bullish engulfing pattern suggests the possibility of a short-term rebound. Indicators like RSI at 37 and Stochastic %K at 21 point towards oversold conditions, hinting at potential recovery. However, negative MACD and Awesome Oscillator values affirm the bearish trend.

The ADX of 46 highlights the strength of the current trend, while all key moving averages, including EMAs and SMAs, remain above the current price, creating strong resistance levels. The immediate support lies near 1700, with resistance at 1800-1850. Traders should pay close attention to any breakout or breakdown in these zones to confirm further direction. High ATR values suggest volatility, so caution is advised for both entry and exit strategies. Long-term investors should factor in strong fundamentals like a ROCE of 25.3 and ROE of 18.6 but weigh them against the high valuation indicated by the P/E ratio of 83.9.