Concord Biotech Limited (CONCORDBIO) Stock - Complete Technical Analysis - Nov 21, 2024

Concord Biotech Limited Technical Analysis Key Levels & Trend Insights for 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. Concord Biotech Limited (CONCORDBIO) is trading at 1991.20, sitting comfortably above its 52-week low but far from its 52-week high of 2664. The stock has demonstrated some notable daily volatility, with the most recent price action showing a range of 1905 to 2019. Technically, the stock shows both bullish and cautious signals, with the RSI reading at 61.55, implying moderate strength but not overbought. The Stochastic RSI suggests a possible overbought condition, signaling that a pullback may be possible in the short term.

The MACD remains in a bullish setup, indicating that there could still be upward movement in the stock, especially if it breaks through recent resistance levels. The stock seems to be consolidating between 1905 and 2019, and this could be a crucial range for traders to watch. A breakout above 2019 would target higher resistance zones at 2046 and potentially 2260, while a break below 1905 would open the door for further downside to key support levels.

The stocks ATR shows significant price movements, meaning traders should expect volatility. If you are trading this stock, consider watching the key levels carefully to determine your entry and exit points based on the price action and technical indicators.