Suratwwala Business Group Limited (SBGLP) Stock - Complete Technical Analysis - Sep 13, 2024

Suratwwala Business Group Ltd: Technical Analysis & Forecast Is it a Buy or 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.

The technical analysis of Suratwwala Business Group Limited (SBGLP) indicates a mix of bullish and bearish signals. Currently, the stock is trading at 115, which is 16.61% below its 52-week high of 137.68, but 269.05% above its 52-week low of 31.11.

Support and Resistance Levels:

Immediate support is around 111.49, with further support at 101.47 and 80.69.

Immediate resistance is near 132.27, with further resistance at 143.03 and 163.81.

Technical Indicators:

RSI is in the oversold zone, indicating potential for a rebound or consolidation.

MACD shows a negative value, suggesting a bearish trend.

Stochastic RSI and Williams %R are deeply oversold, which might signal a possible turnaround.

ADX is low, indicating a weak trend.

Moving Averages:

The stock price is below most Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs), reflecting a bearish short-term trend.

The price is trading below the Ichimoku Base Line and Hull Moving Average, confirming a bearish outlook.

Volatility and Trend Indicators:

ATR readings suggest moderate volatility. The average true range indicates that the stock is experiencing relatively high fluctuations.

Awesome Oscillator and Commodity Channel Index are negative, supporting the bearish view.

In summary, while the stock shows potential for a rebound given the oversold conditions, the overall trend remains bearish with significant resistance levels ahead. Traders should watch for a possible bounce from support levels and monitor for any bullish reversal signals.