Apollo Tyres Limited (APOLLOTYRE) Stock - Complete Technical Analysis - Nov 19, 2024

Apollo Tyres Technical Analysis: Breakout or Pullback Key Levels to Watch

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.

Apollo Tyres is consolidating, trading near 486, with support seen around 470 and resistance forming near 500. The RSI at 47 suggests neutral momentum, while MACD shows a slight bearish trend, though a crossover is possible with increased bullish activity. ADX at 25 indicates moderate trend strength, with the potential for a directional shift if price levels break key supports or resistances.

Recent price action highlights a recovery attempt from lower levels, with short-term moving averages like EMA-10 and VWMA around 480 providing immediate support. However, resistance at 500 aligns with longer-term moving averages, posing a challenge for further upward movement. Oscillators like the CCI and Stochastic %K suggest the stock is neither overbought nor oversold, indicating a range-bound movement in the near term.

The Awesome Oscillator and Williams %R hint at cautious bullishness, but the lack of high volumes could limit upside potential. A breakout above 500 could attract momentum buyers, while a breach of 470 may lead to retesting of lower levels near the 52-week low of 413.