Angel One Limited (ANGELONE) Stock - Complete Technical Analysis - Nov 19, 2024

Angel One Stock Analysis: Key Support & Resistance 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.

Angel One Limited has seen significant fluctuations recently, trading 31% below its 52-week high. The stock shows weak momentum with RSI at 42.72 and MACD in the negative zone, suggesting bearish dominance. ADX indicates a weak trend, aligning with recent indecision patterns like Spinning Top and Doji, further confirming a lack of strong directional movement.

Support zones around 2600 are crucial, with resistance near 2754 and 2857. The stock's position below short-term moving averages but above the 200-day SMA reflects a bearish near-term trend within a bullish long-term outlook. Oscillators like Awesome and CCI confirm weak momentum, while oversold stochastic indicators hint at a possible reversal.

Traders should remain cautious, looking for a breakout beyond resistance or a breach below support, accompanied by volume, to validate any trend shift. Current conditions favor range-bound trading with potential for volatility in the near term.