Strides Pharma Science Limited (STAR) Stock - Complete Technical Analysis - Dec 18, 2024

STAR Stock: Downtrend Alert - What's Next

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.

Strides Pharma Science Limited (STAR), currently at 1485.05, is trading significantly below its 52-week high, with recent price action showing a clear downtrend. The RSI is at 44.32, indicating weakening momentum. The MACD is negative, confirming the bearish trend. The ADX is low at 14.63, suggesting a weak trend. The stock is trading below its 10, 20, and 30-day EMAs and SMAs, a bearish sign, but above its 100 and 200-day moving averages. The Stochastic %K and Stochastic RSI are low. The Hull Moving Average is below the current price. From a pivot point perspective, the price is well below the classic pivot, indicating selling pressure. The ATR shows high volatility. In summary, STAR shows weakness with a short term downtrend and bearish signals. While longer term moving averages offer some support, recent price action and the negative MACD suggest further downside. Traders should be cautious and look for reversal confirmation, such as a break above the 20-day EMA, before going long. A break below recent lows could trigger more selling.