Syngene International Limited (SYNGENE) Stock - Complete Technical Analysis - Sep 18, 2024

Syngene International Limited (SYNGENE) Stock Analysis Key Support & Resistance Levels Technical

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 Syngene International Limited (SYNGENE)

Syngene International Limited (SYNGENE) is currently trading at 893, which positions it about 5.55% below its 52-week high of 945.25 and 46.93% above its 52-week low of 607.65.

Support and Resistance Levels:

Immediate Support: The stock has immediate support near the 846 level, as suggested by the Classic Pivot Point and Fibonacci Pivot Point. If the price falls below this level, the next significant support can be seen around 814.4 and 760.05.

Immediate Resistance: The immediate resistance level is around 901.05 based on the Classic Pivot Point. Further resistance can be observed at 933.35 and 1020.0.

Technical Indicators:

MACD: The MACD is indicating bullish momentum, suggesting a positive trend in the near term.

RSI: The RSI is at 55.7, reflecting a neutral to slightly bullish sentiment.

ADX: With an ADX value of 39.64, the stock shows a strong trend, indicating a robust movement in the current direction.

Stochastic Oscillator: The Stochastic %K is at 68.22, showing that the stock may be nearing overbought conditions.

Moving Averages: The stock is trading below several key moving averages, including the 10-day EMA at 905.01 and the 20-day EMA at 886.3, suggesting potential resistance around these levels. The 50-day EMA at 837.51 and 100-day EMA at 792.99 are supportive levels to watch for potential rebounds.

Ichimoku Base Line: The Ichimoku Base Line is at 875.9, providing a dynamic support level.

Chart Patterns and Observations:

The stock's current price is positioned around key pivot points, indicating critical support and resistance levels.

ATR (Average True Range): The ATR suggests moderate volatility, with recent averages indicating consistent price movement.

Overall, SYNGENE is showing a strong upward trend but facing some resistance near the current price. Traders should watch for price movements around the support and resistance levels mentioned to gauge future directions.