Dodla Dairy Limited (DODLA) Stock - Complete Technical Analysis - Dec 04, 2024

Dodla Dairy Stock Analysis: Strong Bullish Trend, Key Levels to Watch DODLA Technical 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. Dodla Dairy Limited (DODLA) is showing strong bullish momentum in the short and medium term. Currently priced at 1,274, the stock is 5.38% below its 52-week high of 1,346.1, but it has risen significantly from its 52-week low of 791.1, reflecting an upward trajectory. The stock has solid fundamentals, with a P/E ratio of 38.4, and strong returns with an ROCE of 20.8% and an ROE of 15.6%.

From a technical perspective, key indicators show a continued bullish trend. The RSI is at 63.95, suggesting it is nearing overbought territory but not yet at extreme levels, making it a candidate for further upside. The MACD is positive, with a level of 9.91, reinforcing the bullish sentiment. The Stochastic RSI, however, at 94.52 signals the stock could face a correction soon as it is in overbought conditions.

The stock is above key moving averages, including the 10-day, 20-day, and 50-day exponential and simple moving averages, signaling a healthy upward trend. In terms of price levels, the stock has recently crossed above its Classic Pivot Point of 1,216, confirming positive price action. Resistance is expected at 1,286, and further strength could push it to 1,344 or even higher, approaching the 1,473 level. On the downside, support lies at 1,220 and 1,244, with further support at the 1,158 zone.

Volatility is moderate, as seen in the Average True Range (ATR), which highlights fluctuations in price. This suggests traders should be cautious of rapid price movements. For those with a long-term investment horizon, the stock shows a positive outlook based on strong technical indicators and solid fundamentals, making it an attractive option for further consideration.