Technical Analysis of Apollo Micro Systems (APOLLO)
Overview of the Stock- The chart presents a one-hour timeframe analysis of Apollo Micro Systems (APOLLO) on the NSE. It includes:
My Technical Analysis
Price Action:- The price seems to be in an uptrend, as indicated by the higher highs and higher lows. It's currently testing the 0.5 Fibonacci retracement level, which could act as a support level. A break below this level might indicate a potential reversal.
Moving Average:- The price is above the 200 EMA, suggesting a bullish bias.
Fibonacci Retracement:- The 0.5, 0.618, and 0.786 Fibonacci retracement levels are acting as potential support and resistance areas.
RSI:- The RSI is currently above the 50 level, indicating bullish momentum.
However, it's approaching the overbought zone, which might suggest a potential price correction.
Potential Scenarios- As per technical analysis based on indicators, there are two trend scenarios
Bullish scenario: If the price holds above the 0.5 Fibonacci level and the RSI cools down without entering the overbought zone, the uptrend might continue. The next resistance levels to watch are the 0.618 and 0.786 Fibonacci levels.
Bearish scenario: A break below the 0.5 Fibonacci level could trigger a downside move. The next support level to watch is the 200 EMA.
Trading Ideas (for informational purposes only)
Potential long entry: If the price bounces off the 0.5 Fibonacci level with increased volume, a long position could be considered, with a stop-loss below the recent low.
Potential short entry: If the price breaks below the 0.5 Fibonacci level with high volume, a short position could be considered, with a stop-loss above the recent high.
Remember: This analysis is a snapshot in time, and market conditions can change rapidly. It's crucial to conduct further analysis and consider other factors before making any investment decisions.
Disclaimer: - This analysis is based solely on the provided chart and does not consider fundamental factors. It's essential to conduct thorough research before making any investment decisions as I am not SEBI registered person and this analysis is only for educational purpose
Thanks for your support as always
Overview of the Stock- The chart presents a one-hour timeframe analysis of Apollo Micro Systems (APOLLO) on the NSE. It includes:
My Technical Analysis
Price Action:- The price seems to be in an uptrend, as indicated by the higher highs and higher lows. It's currently testing the 0.5 Fibonacci retracement level, which could act as a support level. A break below this level might indicate a potential reversal.
Moving Average:- The price is above the 200 EMA, suggesting a bullish bias.
Fibonacci Retracement:- The 0.5, 0.618, and 0.786 Fibonacci retracement levels are acting as potential support and resistance areas.
RSI:- The RSI is currently above the 50 level, indicating bullish momentum.
However, it's approaching the overbought zone, which might suggest a potential price correction.
Potential Scenarios- As per technical analysis based on indicators, there are two trend scenarios
Bullish scenario: If the price holds above the 0.5 Fibonacci level and the RSI cools down without entering the overbought zone, the uptrend might continue. The next resistance levels to watch are the 0.618 and 0.786 Fibonacci levels.
Bearish scenario: A break below the 0.5 Fibonacci level could trigger a downside move. The next support level to watch is the 200 EMA.
Trading Ideas (for informational purposes only)
Potential long entry: If the price bounces off the 0.5 Fibonacci level with increased volume, a long position could be considered, with a stop-loss below the recent low.
Potential short entry: If the price breaks below the 0.5 Fibonacci level with high volume, a short position could be considered, with a stop-loss above the recent high.
Remember: This analysis is a snapshot in time, and market conditions can change rapidly. It's crucial to conduct further analysis and consider other factors before making any investment decisions.
Disclaimer: - This analysis is based solely on the provided chart and does not consider fundamental factors. It's essential to conduct thorough research before making any investment decisions as I am not SEBI registered person and this analysis is only for educational purpose
Thanks for your support as always
Trade active
Start buying at CMP110.80 and accumulate if it retest the zone shown on the chartTrade active
As per my recommendations on 7-Aug-2024, traders who bought Apollo stock on 110.80. Today it increased by 10+ rupees. Book your partial profit or hold for a bull rally
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.