Siemens Limited (SIEMENS) Stock - Complete Technical Analysis - Sep 24, 2024

Siemens Limited Stock Analysis: Key Support and Resistance Levels Revealed

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.

In this detailed technical analysis of Siemens Limited, we see the stock currently trading at 7,096. The stock has shown impressive performance, trading 10.96% below its 52-week high of 7,968.7 and 118.60% above its 52-week low of 3,246. The stock's P/E ratio stands at 104, which indicates it may be overvalued compared to its earnings. However, a strong ROCE of 20.7% and ROE of 15.4% reflect solid operational efficiency and profitability.

Looking at the technical indicators, the Average Directional Index (ADX) is at 26.34, suggesting a strengthening trend, while the Relative Strength Index (RSI) is at 64.89, indicating the stock is nearing overbought territory. The Stochastic %K is at 94.2, further confirming the possibility of overbought conditions, as the Stochastic RSI Fast is at a full 100.

The MACD is in negative territory, which indicates a potential bearish outlook, but the Momentum indicator shows strong bullish momentum at 512.8. The Awesome Oscillator is negative at -27.99, signaling some weakness in price momentum.

Support levels can be seen around 6,833, with the 10-day Exponential Moving Average (EMA) at 6,833.42 providing a critical short-term support area. If the stock declines, significant support is expected near the 6,900 levels, where the 50-day Simple Moving Average (SMA) is located. Resistance levels are seen at approximately 7,244, where the price might face challenges due to recent peaks.

In summary, while Siemens Limited shows strong potential for upward movement, caution is advised due to overbought indicators and a weak MACD. Traders should keep an eye on support levels around 6,900 and resistance at 7,244 for potential trading opportunities.