Salzer Electronics Limited (SALZERELEC) Stock - Complete Technical Analysis - Sep 13, 2024

Salzer Electronics Stock Analysis: Key Support & Resistance Levels, Technical Indicators Explained

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. Salzer Electronics Limited (SALZERELEC) Technical Analysis

Salzer Electronics Limited (SALZERELEC) is currently trading at 1,014. This price is approximately 11.26% below its 52-week high of 1,142.95, reached on August 29, 2024, and about 180.97% above its 52-week low of 361.0, observed on September 20, 2023.

Support and Resistance Levels:

Support Levels: The key support level is near 1,000, aligned with the Camarilla S3 and Fibonacci S1 levels. Additional support can be found around 890, which is a significant psychological and technical level.

Resistance Levels: Resistance is observed at 1,040, near the Woodie Pivot S1, and 1,200, aligning with the Classic Pivot R1. A major resistance level is positioned around 1,340, coinciding with both Classic and Fibonacci Pivot R2 levels.

Technical Indicators:

MACD: The MACD is showing positive momentum, indicating a potential bullish trend.

RSI: The RSI is at a neutral level, suggesting that the stock is neither overbought nor oversold.

ADX: The ADX is at a moderate level, indicating a trend with potential strength but not exceptionally strong.

Stochastic Oscillator: The Stochastic %K is in the oversold territory, suggesting potential for a rebound.

CCI: The Commodity Channel Index (CCI) is in the negative zone, reflecting possible weakness or consolidation.

Williams %R: This is in the oversold zone, which could signal a potential turnaround.

Moving Averages:

The stock is trading below the short-term moving averages (10, 20, and 30 EMA and SMA), which might indicate a bearish or corrective phase. However, it is above the long-term moving averages (50, 100, and 200 EMA and SMA), suggesting that the long-term trend remains positive.

Chart Patterns:

A Dark Cloud Cover pattern has formed, which could indicate a potential bearish reversal in the short term. This pattern suggests caution, as it points to a possible decrease in price momentum.

Additional Observations:

ATR: The Average True Range (ATR) indicates moderate volatility, which can lead to significant price swings in either direction.

Awesome Oscillator: The Awesome Oscillator is positive, supporting the potential for a bullish trend.

In summary, while Salzer Electronics Limited is experiencing short-term resistance and showing some bearish signals, the overall long-term trend remains positive. Traders should watch the key support and resistance levels closely and be mindful of the Dark Cloud Cover pattern that suggests short-term caution.