S.J.S. Enterprises Limited (SJS) Stock - Complete Technical Analysis - Oct 01, 2024

S.J.S. Enterprises Limited: Technical Analysis & Key Levels for Traders

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 today's analysis of S.J.S. Enterprises Limited (SJS), we observe the stock currently trading at 982.45, which is 13.65% below its 52-week high of 1137.7. The stock has experienced significant volatility recently, highlighted by a Bearish Harami pattern, indicating potential weakness in upward momentum. Over the last five days, SJS has shown a range from a low of 975 to a high of 1008.8, suggesting increased fluctuations in trading behavior.

The Average Directional Index (ADX) is at 24.55, indicating a weak trend, while the Relative Strength Index (RSI) stands around 51.71, showing that the stock is neither overbought nor oversold, which could imply consolidation. The Stochastic indicators suggest a moderate selling pressure with the %K at 41.32. Notably, the MACD level at 3.51 points to a potential bullish scenario, but the Awesome Oscillator is negative, indicating bearish momentum.

Support levels can be identified around the Classic Pivot S1 at 934.18 and the Woodie Pivot S1 at 930.13, while resistance may be seen near the Classic Pivot R1 at 1057.93. The stock has shown resilience, trading 77.96% above its 52-week low of 552.05, which may attract value investors.

Traders should be cautious of sudden price drops given the recent inside candle pattern and volatility. Keeping an eye on price action near the identified support and resistance levels will be crucial in the coming days. Overall, SJS presents a mixed technical outlook, and investors should consider these insights while making trading decisions.