Procter & Gamble Health Limited (PGHL) Stock - Complete Technical Analysis - Nov 22, 2024

Procter & Gamble Health Limited PGHL Stock Technical Analysis Support, Resistance & Trends

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. PGHL's current price action shows it trading at 5094.80, significantly lower than its 52-week high of 5833.30, suggesting resistance near the 5800-5850 range. Meanwhile, it remains 9.88% above its 52-week low, which occurred in April 2024, signaling positive upward movement from the lows.

Recent price movements indicate mild fluctuations, with a decrease seen on November 22, 2024, after a high of 5170.75. This suggests that the stock may be encountering resistance in the 5150-5200 range, which has contributed to a slow decline.

Several technical indicators suggest bearish momentum in the short term. The MACD value indicates selling pressure, while the RSI below 50 shows that the stock is trending towards oversold territory. The Stochastic %K and RSI readings also support this view, indicating that PGHL might soon reach an oversold condition but isn't quite there yet.

The support level appears to be around 5050, with another key support zone near 4900. Should the price fall below 5050, further declines toward 4800-4850 could occur. On the other hand, if the stock holds above 5050, the resistance at 5200 could be tested, and a breakout above this level could lead the stock towards higher ranges, potentially reaching 5300-5400.

The ATR indicates moderate volatility, suggesting that the stock could see short-term swings. The moving averages, particularly the 50-period and 200-period EMAs, are showing a flat trend, signaling consolidation.

In summary, traders should monitor the 5050-5200 range for potential moves. A break above 5200 could signal bullish momentum, while a move below 5050 could indicate a bearish phase with targets at 4900 and below.