Swan Energy Limited (SWANENERGY) Stock - Complete Technical Analysis - Sep 18, 2024

Swan Energy Limited (SWANENERGY) Stock Analysis - Bearish Trends and Key Support Levels 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.

Swan Energy Limited (SWANENERGY) is currently trading at 589, which is notably 24.68% below its 52-week high of 782.25 and 108.75% above its 52-week low of 282.25. This indicates the stock has had significant volatility over the past year.

From a technical perspective, the stock is underperforming as reflected by several key indicators. The Relative Strength Index (RSI) is in the oversold territory, suggesting potential for a price rebound if buying pressure increases. The MACD is negative, indicating a bearish trend, while the Awesome Oscillator and the Commodity Channel Index (CCI) also point to bearish momentum. The Stochastic Oscillator and Stochastic RSI are showing extremely low values, reinforcing the oversold condition.

The Average Directional Index (ADX) is currently at a moderate level, indicating that the stock's trend strength is not very strong. The Volume Weighted Moving Average (VWMA) and Hull Moving Average are both above the current price, which suggests that the stock might face resistance at these levels.

Support levels are crucial for the stock, with the Classic Pivot S1 and Fibonacci Pivot S1 aligning around the 631 and 654 levels respectively. If the price breaks below these support levels, it could potentially test lower supports, while the major resistance levels are indicated by the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) at 647 and 680 respectively.

Given the current technical indicators, Swan Energy Limited is in a challenging position with several indicators suggesting bearish trends. Traders should monitor the support levels closely and watch for any potential bullish reversals indicated by a change in RSI or MACD signals.