Apollo Hospitals Enterprise Limited (APOLLOHOSP) Stock - Complete Technical Analysis - Nov 27, 2024

Apollo Hospitals Stock Analysis: Key Levels, Trends & Technical Indicators December 2024 Update

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. Apollo Hospitals stock is showing mixed signals, with recent fluctuations suggesting both risks and opportunities. The stock is currently trading at 6,982, which is about 7.45% below its 52-week high and 32.13% above its 52-week low, indicating that its holding firm above its recent low despite some volatility.

Looking at the price action over the past few days, we can see clear price swings. The stock opened at 7,076.55 on November 27th and touched a low of 6,970 before rising to 7,115.40. These intraday moves highlight short-term volatility and create a favorable environment for traders looking to capitalize on price fluctuations.

Support is evident around 6,950, with the stock bouncing off this level recently. On the resistance side, the 7,100-7,200 range remains a key zone to watch. The stock has faced difficulties pushing through these levels, which could indicate a tough barrier for the bulls.

Technical indicators are in a neutral zone. The RSI is around 50, showing no clear overbought or oversold signals. The MACD is in the negative territory, suggesting a slight bearish sentiment, but the stock is still holding above its moving averages, which hints at a potential for upward movement if resistance levels are breached. The Average Directional Index (ADX) of 14.47 suggests weak trend strength, so traders should look for clearer signals to determine the next move.

Given the ATR (Average True Range) showing elevated levels, indicating higher volatility, it is crucial for traders to focus on price action around the key levels6,950 for support and 7,100 for resistance. A breakout from either of these levels could set the tone for the next move, making it essential to monitor closely for any breakout confirmation.