Epigral Limited (EPIGRAL) Stock - Complete Technical Analysis - Nov 22, 2024

Epigral Limited (EPIGRAL) Technical Analysis: Support, Resistance, and Key Indicators Explained

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. Epigral Limited (EPIGRAL) is showing a dynamic market scenario. Trading currently at 1,946.65, the stock is 19.12% below its 52-week high and 119.19% above its 52-week low, reflecting a healthy recovery from the lows of December 2023. The recent price action indicates volatility, especially with significant daily fluctuations observed in the last week, such as the Nov 14th surge above 2,100 and subsequent pullback.

In terms of technical analysis, the stock is currently below both its short-term and medium-term moving averages, with the 10-day EMA at 1,995.45. This suggests that the stock may be struggling to find support above this level. Traders should be cautious if the stock continues to face resistance near the 2,035 and 2,100 zones.

Key support levels are observed around 1,860, and if the stock breaks below this, it could head towards the next support level of 1,800. Conversely, a strong resistance lies near 2,100 and 2,400. A breakout above these levels could indicate bullish momentum, but it requires confirmation with higher volume.

The MACD and RSI readings suggest a bearish outlook in the short term, as the MACD is below zero, and the RSI is in a neutral zone, meaning that the stock lacks strong directional momentum. However, the bullish engulfing pattern observed recently could signal a potential reversal, especially if the stock climbs above 1,960, suggesting traders watch for any upward movement.

Given the weak trend indicated by the ADX and the bearish indicators in the short term, traders should be cautious of the stocks volatility. Monitoring the support and resistance levels, along with keeping an eye on the next candlestick formations, will be key to deciding the right entry or exit points.

In summary, patience may be necessary for Epigral Limited, as price action remains volatile with a potential upside above 2,100, while downside risk exists if the stock breaks support at 1,860.