Jagsonpal Pharmaceuticals Limited (JAGSNPHARM) Stock - Complete Technical Analysis - Dec 11, 2024

Jagsonpal Pharmaceuticals Stock Analysis Key Levels to Watch for Potential Upside JAGSNPHARM

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. Jagsonpal Pharmaceuticals Limited (JAGSNPHARM) has been demonstrating interesting price action with notable fluctuations over the last few days. The stock is trading at 678.35, which is 17.28% below its 52-week high of 820.1, yet it is 147.93% above its 52-week low of 273.6, signaling significant growth.

The stock has formed a Bullish Harami pattern recently, signaling potential for price recovery. Despite some volatility, the stock's technical indicators are providing a strong bullish outlook. The Average Directional Index (ADX) is at 44.94, indicating a strong trend in motion. The RSI of 58.45 suggests that the stock is not yet in overbought territory but is nearing the upper end of its range, making it worth watching for further price moves.

Additionally, the MACD level at 40.37 confirms bullish momentum, while the Awesome Oscillator reading of 83.83 further supports the upside potential. Traders should focus on the key support zone around 660-665 and resistance at 700-705. A breakout above the 705 level could indicate further upside potential, pushing towards the 820 level. However, if the stock fails to hold the support near 660-665, there may be a price correction or a consolidation phase in the short term.

The stock's recent price behavior shows volatility, with the stock moving between 651.00 and 705.00 over the past few days. On December 11, the stock opened at 664.70 and reached a high of 698.95, closing at 678.35, showing a short-term surge. The stock's price movements suggest that it is in a strong upward trend but also indicates short-term fluctuations that traders need to watch closely.

For long-term investors, the stock's strong fundamentals such as its ROCE of 17.0% and ROE of 13.0% indicate solid profitability, but caution is advised due to the short-term volatility. Traders should be mindful of support at 660-665 and resistance near 700-705 to navigate the price fluctuations effectively.