Ampol Limited (ASX: ALD) Technical Analysis SummaryCurrent Trend: The stock has been in a long-term uptrend but recently experienced a pullback after reaching a peak.
Moving Averages:
20 EMA (Short-Term): Shows a downward trend, indicating short-term bearish sentiment.
50 EMA (Medium-Term): Flattening, which suggests potential weakening of the medium-term uptrend.
100 and 200 EMAs (Long-Term): Still trending upward, indicating that the long-term trend remains bullish.
Support Levels:
Immediate Support: AUD 27-28 (near the 50 EMA).
Stronger Support: AUD 23-24 (near the 100 EMA).
Resistance Level: Around AUD 35, near the recent high.
Trading Strategy:
Bullish Scenario: Enter a long position around AUD 27-28 if reversal signals appear. Set a profit target near AUD 35 and a stop-loss below AUD 22.
Bearish Scenario: If the stock breaks below the 100 EMA (AUD 23-24), consider a short position targeting the 200 EMA (AUD 18-20). Set a stop-loss above AUD 29.
Watch key support and resistance levels to determine the stock's next move. Use appropriate stop-losses and profit targets to manage risk effectively.
