Siemens Limited (SIEMENS) Stock - Complete Technical Analysis - Sep 16, 2024

Siemens Limited Technical Analysis: Key Support, Resistance & Indicators - September 2024

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.

Siemens Limited (SIEMENS) is currently trading at 6,713, reflecting a strong position above its 52-week low of 3,246 and showing a decline of approximately 15.76% from its 52-week high of 7,968. Technically, the stock is presenting a mixed picture.

Support and Resistance Levels: The stock has immediate support around the Classic Pivot S1 at 6,553, with further significant support at the Fibonacci S2 level of 6,478. Resistance is initially at the Classic Pivot R1 of 7,244, and if this level is surpassed, the stock could face further resistance around the Woodie Pivot R1 at 7,273.

Chart Patterns: A bearish Shooting Star pattern has emerged, suggesting a potential reversal from recent highs. This pattern, characterized by a higher open and close compared to the low and high, indicates selling pressure that could lead to a downward correction.

Technical Indicators:

MACD: The MACD is currently in negative territory, which may indicate bearish momentum.

RSI: At 42.43, the RSI suggests that the stock is nearing oversold conditions but is not yet in the oversold zone.

ADX: The ADX at 29.19 signifies a strong trend, but it's crucial to note the direction of the trend for trading decisions.

Stochastic RSI: The Stochastic RSI reading of 61.78 is relatively high, suggesting potential overbought conditions.

ATR: The ATR is showing increased volatility, indicating that significant price swings are possible.

Moving Averages:

Exponential Moving Averages (EMAs): The stock is trading below the 10-day EMA of 6,699.19 but above the longer-term 200-day EMA of 5,971.56, reflecting a short-term bearish trend while maintaining a longer-term bullish outlook.

Simple Moving Averages (SMAs): Similar to the EMAs, the stock is below the 10-day SMA but remains above the 200-day SMA, which indicates mixed short-term trends with stronger long-term support.

Overall, Siemens Limited shows mixed signals. While the stock remains above significant long-term moving averages, bearish patterns and indicators suggest caution in the short term. Traders should closely monitor support and resistance levels, as well as technical indicators, to make informed decisions.