Advanced Enzyme Technologies Limited (ADVENZYMES) Stock - Complete Technical Analysis - Sep 11, 2024

Advanced Enzyme Technologies Stock Analysis: Key Levels & Trends NSE Insights Partha Kuchana

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. Let's delve into the technical outlook for Advanced Enzyme Technologies Limited. Currently trading at 511, the stock is roughly 5.14% below its 52-week high of 536 and approximately 75.54% above its 52-week low of 291.1.

For support and resistance levels, the price is currently just above the Camarilla Pivot S1, which could act as immediate support if the stock experiences a pullback. If this level is breached, the next support level is likely around the Classic Pivot Point. On the resistance side, the stock is testing the Camarilla Pivot R2. A sustained move above this resistance could lead the stock towards further upside potential.

Looking at moving averages, the stock is trading above its 50-day SMA and 100-day EMA, indicating a strong uptrend. The short-term moving averages such as the 10-day EMA and SMA are also trending upward, reinforcing the bullish momentum.

Technical indicators paint a bullish picture overall. The MACD is in a positive territory, suggesting continued upward momentum. The RSI is in the overbought zone, indicating that the stock may be experiencing strong buying pressure. The ADX is high, signifying a strong trend. Stochastic indicators and the Awesome Oscillator also support the ongoing bullish trend.

The Average True Range (ATR) indicates high volatility, suggesting that the stock may experience significant price swings.

In summary, Advanced Enzyme Technologies Limited shows a strong bullish setup with potential support levels near Camarilla Pivot S1 and further resistance at Camarilla Pivot R2. Traders should monitor these levels closely and watch for any breakout or breakdown to gauge future movements.