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Jubilant Pharmova Limited (JUBLPHARMA) Stock - Complete Technical Analysis - Dec 17, 2024

"Jubilant Pharmova Stock Analysis Bearish Reversal Signals & Support/Resistance Levels Explained"

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 Pharmova Limited (JUBLPHARMA) is currently facing bearish pressure, as indicated by various technical factors. Trading at 1,082, the stock is 17.39% below its 52-week high, signaling a correction phase after hitting higher levels. It has, however, surged significantly from its 52-week low, showing resilience in recovery.

The Shooting Star pattern and the Three Black Crows pattern suggest bearish continuation, indicating heavy selling pressure at recent highs. These patterns align with the stocks overall downtrend, confirming that a further decline could be likely.

Looking at key indicators, the RSI is at 37.19, showing that the stock is in oversold territory but still may face downward pressure in the short term before any meaningful reversal. The ADX at 16.74 reflects weak trend strength, while the Momentum indicator is at a negative -120.1, signaling that the bears are in control for now. Additionally, the CCI is also in negative territory, confirming the lack of strength in the current trend.

On the technical front, both SMAs and EMAs are providing resistance levels at 1,144 and 1,160. The Ichimoku Base Line at 1,192 further confirms that a bullish trend is still far from being established. The MACD is bearish, as shown by its negative readings, and the Awesome Oscillator also supports the current selling pressure.

The ATR suggests heightened volatility, and as such, investors and traders should proceed with caution in this volatile environment. Support levels around 1,076, 1,110, and 985 could provide temporary relief, while resistance around 1,144, 1,160, and 1,192 should be watched closely for potential selling zones.

In conclusion, Jubilant Pharmova is in a weak bearish trend, with technicals showing no immediate signs of recovery. A reversal could be on the horizon, but patience is key. Traders should wait for a clearer buy signal before entering long positions, as the stock may test lower levels first.







 

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