Allcargo Logistics Limited (ALLCARGO) Stock - Complete Technical Analysis - Dec 03, 2024

Allcargo Logistics Stock Analysis: Key Levels & Trends for Smart Trading

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.

Allcargo Logistics Limited exhibits mixed signals in its technical indicators, offering a nuanced picture for traders. The current price of 56.44 reflects resilience, as the stock has rebounded from recent lows. RSI at 54.81 suggests moderate strength without extreme conditions. The ADX at 37.74 highlights a moderately strong trend, with the stock attempting to sustain its upward momentum. The MACD, however, shows bearish undertones, requiring traders to remain cautious of false breakouts.

Moving averages reveal the stock is consolidating near short-term averages like EMA20, indicating a tug-of-war between bulls and bears. Long-term resistance lies at EMA200 and SMA200 levels, implying a need for sustained buying pressure to cross these barriers. Immediate support is evident near 52.15, while resistance is around 58.62, aligning with Fibonacci and classic pivots.

Recent price behavior shows increasing bullish activity, with December 3, 2024, marking a surge that could signify an attempt to break above the critical 58.62 resistance. However, Stochastic RSI's high level warns of overbought conditions, potentially leading to short-term pullbacks. ATR indicates moderate volatility, making it conducive for traders employing breakout or swing strategies. While short-term indicators lean bullish, investors should watch for confirmation through volume or momentum signals before taking long positions.