Stylam Industries Limited (STYLAMIND) Stock - Complete Technical Analysis - Aug 30, 2024

Stylam Industries Technical Analysis: Key Support

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. Stylam Industries Limited is currently trading at 1,977. Key technical indicators show mixed signals. The MACD indicates a bullish momentum, while the RSI suggests the stock is in a neutral zone. The ADX is relatively low, implying a lack of strong trend direction. The Stochastic RSI and Stochastic %K both suggest the stock is in the overbought territory, indicating potential price consolidation or reversal.

Support levels are observed at around 1,834 and 1,692 based on Classic and Fibonacci pivots, while resistance levels are found near 2,104 and 2,232. The stock's 50-day EMA stands at 1,889, suggesting this could act as a significant support level, while the 200-day EMA at 1,730 could offer further support if the price declines. The current trading price is also close to the Hull Moving Average at 1,979, adding another layer of support.

The recent candlestick patternsa Doji and a Spinning Tophighlight market indecision. The ATR indicates relatively high volatility, suggesting traders should be prepared for potential price swings. With the stock trading 5.41% below its 52-week high and 39.81% above its 52-week low, it's crucial to monitor the key support and resistance levels for any potential breakouts or reversals. Keep an eye on the technical indicators and pivot levels to gauge future movements.