Basilic Fly Studio Limited (BASILIC) Stock - Complete Technical Analysis - Dec 11, 2024

Basilic Fly Studio Limited Stock Technical Analysis Support, Resistance, and Key Indicators

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. Basilic Fly Studio Limited (BASILIC) is showing mixed signals on its technical chart. The stock has been trading at 336, with a moderate bullish outlook. It has strong fundamentals with a P/E ratio of 28.3 and an impressive ROE of 47.8%. In terms of technical analysis, the stock exhibits a consolidation phase. The Average Directional Index (ADX) is around 27, indicating moderate trend strength. The Relative Strength Index (RSI) is near neutral, pointing to balanced market conditions.

Support levels are visible around 256.30, with potential for a bounce if the stock hits this point. Resistance levels are observed in the 343-345 range, with the next significant resistance at 405. The stock's movement relative to these levels will guide the short-term price action. The MACD is currently negative, which signals a bearish momentum, but there is no definitive breakdown as the stock stays above critical support zones.

Technical indicators like the Stochastic RSI indicate overbought conditions, suggesting caution for traders looking to enter long positions. The moving averages, particularly the 200-day and 50-day, suggest long-term strength but show some short-term weakness as the stock trades below the 50-day moving average.

Overall, the stock's current technical picture suggests cautious trading around key support and resistance zones. Traders should monitor these levels closely for any breakout opportunities or reversals. If the stock successfully breaks through its resistance levels, further upside could be expected, but a fall below support could indicate further weakness.