Syncom Formulations (India) Limited (SYNCOMF) Stock - Complete Technical Analysis - Sep 13, 2024

Syncom Formulations Technical Analysis: Bullish Trends and Key Levels to Watch NSE Stock Update

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. In our technical analysis of Syncom Formulations (India) Limited, currently trading at 25.6, we observe a mixed technical landscape. The Average Directional Index (ADX) is elevated, indicating a strong trend, while the Relative Strength Index (RSI) suggests the stock is approaching overbought territory. The Stochastic %K is high, indicating bullish momentum, yet the Stochastic RSI is relatively low, suggesting that the stock may face resistance soon.

The MACD is positive, which is generally a bullish sign, and the Awesome Oscillator supports this with a positive reading. However, the Commodity Channel Index (CCI) and Williams Percent Range (WPR) are both in the overbought zone, which could signal a potential pullback.

Moving averages provide a clear picture of the stock's trend. The stock is trading above both the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA), suggesting a bullish trend. Notably, the stock is also above the Hull Moving Average (HMA), reinforcing this uptrend. Support levels are identified around 21.43, which aligns with the 20-day SMA and the Ichimoku Base Line, while resistance may be encountered near 27.83, which corresponds with the Fibonacci Pivot Resistance.

Given that the stock is trading close to its 52-week high, with significant gains over the low, it is crucial for traders to monitor these levels closely. With the current price below the 52-week high and above the 52-week low, the stock might be in a consolidation phase or preparing for a breakout. Traders should watch for any signs of reversal or further strength to gauge the next moves.