Sterling and Wilson Renewable Energy Limited (SWSOLAR) Stock - Complete Technical Analysis - Sep 19, 2024

Sterling & Wilson Renewable Energy Analysis: Key Support, Resistance & Technical Indicators NSE S

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.

Sterling and Wilson Renewable Energy Limited (SWSOLAR) is currently trading at 688. The stock has experienced a 52-week high of 828, which is 16.88% above its current price, and a 52-week low of 253, representing a 172.04% increase from its low. This reflects significant growth over the past year.

Technical Indicators:

MACD: The MACD line is positioned above the signal line, indicating a bullish trend. However, the overall momentum is weakening as the stock price is below the recent highs.

RSI: The Relative Strength Index is near neutral territory, suggesting that the stock is neither overbought nor oversold, which could mean a period of consolidation.

ADX: The Average Directional Index is showing a reading of 22.7, which indicates a weak trend. The market might be in a consolidation phase rather than a strong directional move.

Stochastic Oscillator: The %K value is around 50, indicating the stock is at an equilibrium point. The Stochastic RSI is lower, suggesting potential oversold conditions, but not at extreme levels.

Williams Percent Range: The indicator is in the oversold zone, indicating that the stock might be due for a bounce or a reversal in the short term.

Awesome Oscillator: Positive values suggest bullish momentum, but it should be interpreted in conjunction with other indicators.

Moving Averages:

Exponential Moving Averages (EMA): The stock price is currently above its short-term EMAs (10, 20, 30, 50), indicating a recent uptrend. However, it remains below the longer-term EMA (100, 200), suggesting a mixed to bearish long-term outlook.

Simple Moving Averages (SMA): The stock is trading below its short-term SMAs (10, 20, 30), which might imply that it is experiencing short-term weakness despite being above the longer-term SMA.

Support and Resistance:

Support Levels: Key support is observed near 664, aligning with Classic and Fibonacci pivots. If the price breaks below this, further support can be expected around 617 and 560.

Resistance Levels: Immediate resistance is around 720. A breach of this level could lead to a test of higher resistance around 767 and 870.

Additional Observations:

ATR (Average True Range): The ATR shows volatility, suggesting that the stock may experience significant price swings. This is crucial for setting appropriate stop-loss levels.

Pivot Points: The classic pivot point is at 664, which provides a key level to watch for potential reversals or breakout points.

Overall, SWSOLAR appears to be consolidating after a significant rally from its lows. The indicators suggest mixed signals, with short-term bullish potential but long-term caution due to the stock trading below key moving averages.