Shares of Angel One jumped over 9% on Tuesday, marking the fourth consecutive day of gains for the stock. The share price of Angle One soared 15.96% to intra-day high of Rs 2,715 on NSE.
Over the last four trading sessions, Angel One has surged 22%, yet it remains 33% below its all-time high of Rs 3,896, which it reached in January this year.
What Does the Technical Indicators Say?
Despite the recent rally, Angel One is still among the worst performers on the Nifty 500 index on a year-to-date basis, down 25% for the year. On Monday, the stock managed to close above its 50-Day Moving Average, which had been a significant resistance level since April.
With Tuesday’s gains, the stock also crossed its 100-Day Moving Average at Rs 2,528, showing further bullish momentum. The next key technical level to watch is the 200-Day Moving Average, currently positioned around Rs 2,800.
The Relative Strength Index (RSI) for Angel One, which briefly dipped into oversold territory in July, is now approaching overbought levels, with a current reading of 69. An RSI above 70 typically signals that a stock may be overbought, indicating that further gains could lead to a potential correction.
Stock Performance in Last One Year
In terms of stock performance, Angel One shares have demonstrated mixed returns across multiple time frames. Over the past month, the stock has given a commendable 25.14% return, showcasing its stability and growth potential. The last six months have seen some pressure, with shares giving negative returns of 15.59%, indicating a down trend.
Year-to-date, Angel One shares have fell by 26.10%, reinforcing the stock’s negative momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 50% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
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