Entero Healthcare Solutions Limited (ENTERO) Stock - Complete Technical Analysis - Nov 22, 2024

Entero Healthcare Solutions Stock Technical Analysis Support & Resistance Levels NSE Analysis

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. Entero Healthcare Solutions Limited (ENTERO) has been showing significant volatility lately, with the stock trading around 1,303, which is near its 52-week low. Currently, the market is indecisive, as reflected by a Doji and a Spinning Top candlestick, signaling potential price reversals. On the technical front, the RSI is under 40, indicating oversold conditions and a potential for a rebound, while the Stochastic Oscillator suggests an oversold market. However, the MACD remains negative, signaling that bearish momentum is still in place.

Key support levels to watch are near 1,290, with stronger support at 1,263. If the stock breaks below these, it could test even lower levels near 1,202 or 970, the 52-week low. On the upside, resistance is found at 1,333 and 1,380. A breakout above these levels could lead the stock towards 1,450 and 1,500.

Traders should keep an eye on the ADX, which is at 26, signaling a weak trend. The stock is still within a neutral range, with the price below both the short-term and longer-term moving averages. The price could remain range-bound unless a clear breakout or breakdown occurs.

In conclusion, short-term traders should monitor the price action around these support and resistance levels. A breakout above resistance could signal upward momentum, while a breakdown below support may trigger further declines.