Subros Limited (SUBROS) Stock - Complete Technical Analysis - Sep 27, 2024

Subros Limited Technical Analysis: Key Support & Resistance Levels to Watch

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. Subros Limited is currently trading at 779, reflecting a robust upward trajectory since its 52-week low of 350.65, a staggering 122.26% increase. The stock has been resilient, currently sitting 5.81% below its 52-week high of 827.4, reached recently in August 2024. The company's fundamental metrics show a Stock P/E of 42.7, a Book Value of 147, and a Dividend Yield of 0.23%, indicative of a premium valuation.

From a technical perspective, the Average Directional Index (ADX) suggests a low trend strength at around 16.71, indicating potential sideways movement in the short term. However, the Relative Strength Index (RSI) at approximately 54.82 indicates that the stock is neither overbought nor oversold, suggesting balanced momentum. The MACD is positive, showing potential bullish momentum.

Key support levels to watch include the classic pivot point at 747.83 and further support around 668.27. On the resistance side, significant levels lie at the classic pivot resistance R1 of 872.22. The stock is currently trading above its key moving averages, with the 50-day EMA at 738.88 and the 200-day EMA at 634.07, confirming a bullish trend.

In summary, while Subros Limited has shown impressive gains, traders should monitor the stock for potential sideways movement given the current ADX. However, the positive MACD and RSI indicate that bullish momentum could emerge. The support and resistance levels are crucial for setting entry and exit points.