Suratwwala Business Group Limited (SBGLP) Stock - Complete Technical Analysis - Sep 02, 2024

Suratwwala Business Group Stock Analysis: Key Levels, Indicators

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.

Suratwwala Business Group Limited (SBGLP) Technical Analysis

Currently, SBGLP is trading at 121.58, which is about 11.69% below its 52-week high of 137.68, and 316.66% above its 52-week low of 29.18. The stock is currently experiencing some indecision in the market, as indicated by the recent candlestick patterns. Today's candle is a Spinning Top, suggesting indecision, and the previous pattern was a Doji, reinforcing this sentiment.

Support and Resistance Levels:

Classic Pivot Point: 122.25

Resistance Levels: R1 at 132.27, R2 at 143.03, R3 at 163.81

Support Levels: S1 at 111.49, S2 at 101.47, S3 at 80.69

Camarilla Pivot Point: 122.25

Resistance Levels: R1 at 123.42, R2 at 125.33, R3 at 127.23

Support Levels: S1 at 119.62, S2 at 117.71, S3 at 115.81

Fibonacci Pivot Point: 122.25

Resistance Levels: R1 at 130.18, R2 at 135.09, R3 at 143.03

Support Levels: S1 at 114.31, S2 at 109.40, S3 at 101.47

Woodie Pivot Point: 121.92

Resistance Levels: R1 at 131.61, R2 at 142.70, R3 at 152.39

Support Levels: S1 at 110.83, S2 at 101.14, S3 at 90.05

Technical Indicators:

MACD: Currently showing a positive level, indicating bullish momentum.

RSI: Close to neutral at 48.1, suggesting the stock is neither overbought nor oversold.

ADX: At 13.56, reflecting a weak trend.

Stochastic %K: At 37.15, near the oversold territory.

Stochastic RSI Fast: At 20.18, indicating potential for upward momentum.

Awesome Oscillator: Positive at 1.51, showing bullish momentum.

Williams Percent Range: At -70.54, indicating oversold conditions.

Ultimate Oscillator: At 38.85, indicating a potential reversal in price direction.

Hull Moving Average (9): 121.57, close to current price, showing short-term support.

Exponential Moving Averages (10, 20, 30, 50, 100, 200): Indicating a bullish trend as short-term EMAs are above longer-term EMAs.

Simple Moving Averages (10, 20, 30, 50, 100, 200): Also showing a bullish trend with shorter-term SMAs above longer-term SMAs.

Chart Patterns:

Doji (Indecision): Recent pattern highlighting market uncertainty.

Spinning Top: Signifies indecision and potential reversal.

Average True Range (ATR): Indicates volatility and the average price range over a specified period. Recent ATR values suggest moderate volatility.

Summary: SBGLP is trading close to its pivot points and moving averages, with indicators reflecting a mixed sentiment. The stock's current position shows indecision with patterns like the Doji and Spinning Top suggesting uncertainty in the market. Resistance is likely around the 132 to 143 range, while support is around the 111 to 101 range.