Apollo Hospitals Enterprise Limited (APOLLOHOSP) Stock - Complete Technical Analysis - Dec 12, 2024

Apollo Hospitals Stock Technical Analysis: Key Levels & Trends for Dec 2024 APOLLOHOSP Review

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. Apollo Hospitals Enterprise Limited (APOLLOHOSP), with a current price of 7,227.10, is trading below its 52-week high of 7,545.0, indicating some cooling off from its recent peaks. Despite its high P/E ratio of 92.9, which points to a relatively expensive stock, the company exhibits strong fundamentals with a Return on Capital Employed (ROCE) of 15.1% and Return on Equity (ROE) of 13.4%. The stock offers a low dividend yield of 0.22%, reflecting its growth-focused strategy.

Looking at recent price movements, the stock has shown mixed signals. Over the last five trading days, the price fluctuated within a range of 7,162 to 7,364, suggesting a degree of volatility. The RSI, currently at 56.32, is in a neutral zone, showing that the stock is not in an overbought or oversold condition, while the Stochastic Oscillator's reading of 87.02 suggests that the stock is near overbought levels, signaling potential for a pullback in the short term.

On the moving average front, the stock is above its 10-day EMA of 7,187.57, signaling short-term bullish momentum. However, it is still below the 50-day EMA of 7,024.51, which could act as a medium-term resistance point. The Awesome Oscillator, which stands at 215.76, suggests the presence of bullish momentum. Additionally, the Commodity Channel Index (CCI) at 86.12 also supports this positive outlook.

In terms of volatility, the Average True Range (ATR) is showing an uptick, which indicates higher volatility and potential price swings. Traders should expect possible sharp movements, with key support levels around 7,100 and 7,000, while resistance is expected around 7,300 and 7,500. A break above these resistance levels could indicate a continuation of the uptrend, whereas failure to hold above the support levels may signal a pullback.

Overall, Apollo Hospitals is poised for potential gains if it breaks through resistance at 7,300, but traders must remain cautious of the current overbought condition and the high volatility in the market. Key price levels and volume activity should be closely monitored for any signs of reversal or breakout.