Symphony Limited (SYMPHONY) Stock - Complete Technical Analysis - Dec 18, 2024

SYMPHONY: Double Bearish Signals Sell

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Symphony Limited (SYMPHONY), currently at 1353.75, is trading well below its 52-week high. Recent price action shows a downtrend, reinforced by "Bearish Engulfing" and "Evening Star" patterns. The RSI is at 40.95, weakening. The MACD is negative and declining, confirming the bearish trend. The ADX is at 26.05, indicating moderate trend strength. The stock is trading below its 10, 20, 30 and 50-day EMAs and SMAs. It is trading slightly above its 200 day EMA and SMA. The Stochastic %K is low. The Stochastic RSI is overbought, a contradictory signal. The Hull Moving Average is near the current price. From a pivot point perspective, the price is below the classic pivot. The ATR shows high volatility. In summary, SYMPHONY is weak with a downtrend and mostly bearish signals, especially the candlestick patterns. Traders should be cautious and look for further downside confirmation. A break below the 200-day moving averages could accelerate the decline. Avoid long positions until a clear reversal.