Skipper Limited (SKIPPER) Stock - Complete Technical Analysis - Sep 23, 2024

Skipper Limited Technical Analysis: Key Levels to Watch in 2024

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. Today, were diving into the technical analysis of Skipper Limited, currently trading at 479. This stock is showing a strong upward momentum with an RSI indicating overbought conditions, suggesting that it might be nearing a price correction. The MACD level supports a bullish trend, reinforcing the positive outlook. However, the Average Directional Index, being below 20, indicates that the trend strength may not be very robust.

In terms of support and resistance, key levels to watch are around 468, which is the Classic Pivot R1. If the stock manages to break above 480, we could see a rally towards the next resistance around 520. On the downside, support is strong near the 412 level, which aligns with several pivot calculations. If the price retraces, this level will be critical for traders looking for entry points.

The Awesome Oscillator indicates a potential shift in momentum, and with the stock trading significantly above its moving averages, traders should be cautious. A close below the 50-day EMA could signal a trend reversal, while a sustained movement above the current price could attract more buyers. Overall, while Skipper Limited shows promise, traders should closely monitor these levels for potential price action and adjustments.