Servotech Power Systems Limited (SERVOTECH) Stock - Complete Technical Analysis - Sep 13, 2024

Servotech Power Systems Stock Analysis: Key Support, Resistance, and Trend Insights

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.

Technical Analysis of Servotech Power Systems Limited (SERVOTECH)

Servotech Power Systems Limited is currently trading at 173. The stock has seen significant movement, trading 9.99% below its 52-week high of 192.09 and 148.92% above its 52-week low of 69.5.

Support and Resistance Levels: The immediate support levels are around 159.32 and 136.81, which are derived from classic and Fibonacci pivots. Resistance can be expected around 176.16 and 215.51, reflecting critical price points from the same pivot methods.

Moving Averages: The stock is above its Short-term and Long-term moving averages, with the current price significantly higher than the 50-day (129.07) and 200-day (99.87) Exponential Moving Averages (EMA). The price is also trading above the 10-day (150.1) and 20-day (143.59) EMAs, indicating a strong bullish trend.

Technical Indicators:

MACD is showing positive momentum, indicating bullish strength.

RSI is in the overbought zone, suggesting that the stock may be due for a pullback or consolidation.

Stochastic RSI supports this with its high reading, indicating potential overbought conditions.

ADX is high, signaling a strong trend; the trend is likely to continue if buying pressure remains strong.

Commodity Channel Index (CCI) is very high, confirming that the stock is in an overbought state.

Chart Patterns: The stock shows a bullish trend, with current prices above significant moving averages and pivot points. The high Bull Bear Power reflects strong buying interest.

Other Observations:

Average True Range (ATR) indicates increased volatility, suggesting that price movements might be substantial in the short term.

Volume Weighted Moving Average (VWMA) is above the current price, indicating that recent volumes have been less bullish.

Overall, SERVOTECH displays a strong bullish trend but with overbought conditions suggesting caution. Traders should monitor the support and resistance levels closely and be prepared for potential price corrections or consolidations.