Technical Analysis Astra Microwave Products Ltd.

The stock $ASTRAMICRO is currently trading at 1184.50 and is showing very strong upward momentum. After a significant correction where it took support around the 840-880 zone earlier in the year the stock has made a sharp aggressive recovery. It is currently in a clear short-term uptrend. The recent upward push is backed by decent volume spikes on the green days showing that buyers are actively interested at these higher levels. The momentum remains completely bullish. The most important level to watch right now is the 1200 to 1220 zone. This is a major resistance area because it matches the previous peak. If the stock successfully breaks out and closes above this 1200 level with strong volume it will signal a fresh breakout and we could see new highs. If the stock faces rejection at the current resistance and starts to dip the immediate strong support lies around the 1040 to 1080 range. The major long-term base remains solid down near 840. For short-term buyers it is highly recommended to wait for a clear high-volume breakout above the 1200-1220 resistance zone before taking fresh entries as buying directly at resistance carries a high risk of reversal. Existing holders however should continue holding their current positions to maximize gains from this strong upward momentum. To protect accrued profits in case the stock faces rejection at the peak holders must maintain a strict trailing stop-loss around the 1100-1120 support area. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.