Delhivery Limited (DELHIVERY) Stock - Complete Technical Analysis - Nov 19, 2024

Delhivery Limited Stock Analysis Short-Term Trading Opportunities and Key Levels Nov 2024

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.

Delhivery Limited's (DELHIVERY) stock has shown a volatile price movement in recent weeks, with the stock currently trading at 344.25. It remains significantly below its 52-week high of 488, reflecting investor concerns. Despite the negative profitability ratios (ROE and ROCE), there have been noticeable price surges and drops recently, pointing to short-term trading opportunities.

For traders, Delhivery's current RSI at 37.16 signals that it's nearing oversold conditions, with the potential for a price bounce in the short term if the RSI continues to trend lower. The stock's recent surge from 327.30 to 352.95 on November 19 hints at a potential reversal. However, the MACD in negative territory suggests weak buying momentum, and the stock is trading below its longer-term EMAs, signaling a continued bearish trend.

The Stochastic Oscillator and other momentum indicators such as Williams %R and the Awesome Oscillator reflect an oversold condition, which could lead to short-term price reversals. Traders should closely watch for signs of strength around support levels like 325 and 300. Resistance levels near 350-355 could limit the upside for the stock unless momentum picks up. Volatility is high, as indicated by the ATR, so swings in price could be expected. Traders may look for a breakout above the 355 level or a bounce off 325 for possible trading opportunities. Watch for price consolidation, and adjust strategies according to how the stock reacts to these critical levels.