Jubilant Foodworks Limited (JUBLFOOD) Stock - Complete Technical Analysis - Dec 16, 2024

"Jubilant Foodworks (JUBLFOOD) Technical Analysis: Key Support, Resistance & Trading Signals"

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.

Jubilant Foodworks Limited (JUBLFOOD) stock is currently trading at 681.30, marking a significant position between its 52-week high and low. The price has shown some volatility recently, reflecting mixed investor sentiment. The stock hit a high of 691.00 and closed at 681.30 on December 13, 2024, with support found near the 665.60 level, and resistance lies at the 691 level. The stock has recently moved down from a previous high of 707.80, which suggests a possible short-term retracement or consolidation phase before a breakout. The Average Directional Index (ADX) is high, showing a strong trend, but the RSI is below 70, indicating there is room for the stock to move further without being overbought.

MACD indicates a bullish trend, and the Exponential Moving Averages (EMAs) suggest a mixed sentiment, with the stock trading above its short-term EMAs but below its long-term averages. Key levels to watch are 665.60 for support and 691.00 for resistance. A breakout above 691 would suggest further upside towards the 715 zone, while a failure to hold the support level could lead to a pullback to 640.76 or even 589.62, where the 200-day EMA sits. The Average True Range (ATR) indicates volatility, so keep an eye on sudden price changes. Traders should look for confirmation before making a move, with caution advised if support at 665.60 fails to hold.