EPL Limited (EPL) Stock - Complete Technical Analysis - Sep 10, 2024

EPL Limited (EPL) Stock Analysis: Support, Resistance & Key Indicators for September 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. Technical Analysis for EPL Limited (EPL)

The stock of EPL Limited (EPL) is currently trading at 257, reflecting a 4.58% drop from its 52-week high of 269 and a 51.34% gain from its 52-week low of 169.

Support and Resistance Levels:

Support: The key support levels for EPL are identified around the Classic Pivot S1 at 215.53 and S2 at 181.96, which align with lower pivot levels like the Fibonacci S1 at 218.43.

Resistance: The stock faces resistance around Classic Pivot R1 at 274.53 and R2 at 299.96. Additionally, the Woodie Pivot R1 at 281.5 is a notable resistance point.

Technical Indicators:

MACD: The MACD line indicates a bullish trend, suggesting potential upward momentum.

RSI: Currently, the RSI is at 62.45, showing that the stock is in the overbought zone but not excessively.

ADX: With the ADX at 32.35, the trend strength is strong, indicating a well-established trend.

Stochastic RSI: At 38.08, this indicator suggests the stock may be in a correction phase.

Moving Averages: The stock is trading above its short-term and medium-term moving averages (SMA and EMA), which suggests a positive short-term outlook. However, it is below its Hull Moving Average at 258.23, indicating potential resistance at this level.

Volume Weighted Moving Average (VWMA): The stock is also above the VWMA of 248.29, supporting a bullish trend.

Chart Patterns:

An Inside Candle pattern was observed on 09-Sep-2024, which indicates potential consolidation or a pause in the current trend.

Additional Observations:

The stock's current price is 4.58% below the 52-week high and significantly above the 52-week low, suggesting a robust upward trend over the past year.

The Average True Range (ATR) indicates volatility, with recent values fluctuating around 24.15, suggesting traders should be prepared for potential price swings.

Overall, EPL Limited shows a strong upward trend supported by various technical indicators and moving averages, although some resistance levels need to be watched. Traders should monitor these resistance levels and be cautious of potential corrections as indicated by the Stochastic RSI and other volatility measures.