Apollo Micro Systems buy set up

Dec 31, 2024

Apollo Micro Systems is currently showing an interesting technical setup for traders. Here's a detailed price action analysis:

**Current Price and Trend**
The stock is currently trading at ₹98.41, with a recent upward movement of 4.31%. The price action suggests a promising technical setup with several key observations:

**Technical Highlights**
- **Trend Indication**: The price is showing an uptrend, characterized by higher highs and higher lows
- **Breakout Potential**: The stock is testing a 0.5 Fibonacci retracement level and appears ready for a potential breakout

**Key Trading Levels**
- **Buy Trigger**: Above ₹105 (confirmed breakout level)
- **Stop Loss**: Day's low below the breakout candle
- **Potential Target**: ₹170, offering a potential upside of 62.4%

**Volume Perspective**
- Recent sessions show above-average volume (45% above average)
- Indicates growing buyer interest and active participation

**Technical Indicators**
| Indicator | Signal | Analysis |
|-----------|--------|----------|
| PSAR | Bullish | Bullish crossover and sustaining |
| MACD | Strong Bullish | Bullish crossover with trending momentum |
| Donchian Band | Bullish | New high created and above middle band |

**Trading Strategy**
- First position can be added during accumulation phase near ₹98.41
- Second tranche can be added once stock clears ₹105 with conviction

**Risk Management**
- Favorable risk-reward ratio
- Adherence to stop-loss is crucial for disciplined trading

**52-Week Performance**
- 52-Week High: ₹147.55
- 52-Week Low: ₹87.99

**Outlook**: The stock shows potential for an upward move with strong volume support and a clear breakout trigger. Traders should watch for sustained buying momentum and confirmation above ₹105.