Suven Life Sciences Limited (SUVEN) Stock - Complete Technical Analysis - Oct 01, 2024

Suven Life Sciences Stock Analysis: Support, Resistance & Market Trends

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. Welcome to the technical analysis of Suven Life Sciences Limited (SUVEN). Currently, the stock is trading at 146.02, which is 13.75% below its 52-week high of 169.3 and 140.36% above its 52-week low of 60.75.

Looking at the recent price action, there have been some notable movements. In the last five trading sessions, the stock has shown volatility with a high of 147.00 and a low of 138.18 today, indicating a range of price fluctuations. We observed a sudden drop from 147.70 on September 25 to 140.69 on September 30, highlighting a significant bearish pressure. The closing price on September 30 suggests a potential support level around 140.70.

Analyzing the price trends, we can see a pattern of higher lows and lower highs, which could indicate a consolidation phase. The Average True Range (ATR) shows an increase in volatility, suggesting potential price swings ahead. The MACD is currently negative, indicating bearish momentum, while the RSI is hovering around the midpoint, suggesting the stock is neither overbought nor oversold. The Stochastic indicator also indicates a possible bullish reversal as it shows low values.

In terms of support and resistance, immediate support lies near the 140 level, which aligns with previous lows. Resistance is seen at the 150 mark, where the stock faced selling pressure recently. The pivot points suggest a critical area of focus at 148.72, reinforcing the significance of these levels for traders.

Overall, traders should watch for a break above 150 for a potential bullish reversal or a drop below 140 to confirm bearish sentiments. Keep an eye on the volume for confirmation of these movements, as an increase could indicate strong momentum in either direction.

In summary, with the current market dynamics, it's essential for traders to remain cautious and look for confirmation of price action before making significant trading decisions.