Simplex Infrastructures Limited (SIMPLEXINF) Stock - Complete Technical Analysis - Oct 04, 2024

Simplex Infrastructures Technical Analysis: Key Levels to Watch ðŸš

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.

Simplex Infrastructures Limited is currently trading at 224, reflecting a notable surge from its recent low of 53.95. This impressive rebound has seen the stock soar over 304% from its 52-week low, although it remains approximately 4.75% below its 52-week high of 229, reached on September 16, 2024.

The last few trading sessions reveal a bullish trend, with the stock closing at 218.13 after reaching a high of 218.13 on September 18. Notably, the recent price action shows an increase in volatility, particularly evident as the stock fluctuated between 205.65 and 218.13 on the latest trading day. The Average True Range indicates heightened volatility, suggesting traders should prepare for potential price swings.

Analyzing the momentum indicators, the MACD indicates a bullish sentiment, while the RSI is positioned in a neutral territory, hinting at potential continuation of the current trend. The Stochastic and CCI levels also support this bullish outlook, albeit the Stochastic RSI suggests a potential overbought condition.

Support levels are situated around 218, reinforced by both the classic and Fibonacci pivot points, while resistance is observed near the psychological barrier of 230. A price break above this level could lead to further gains, possibly reaching towards the 250 mark. Conversely, a slip below 218 could trigger a sell-off, testing lower support levels around 207 and 201.

In summary, while Simplex Infrastructures Limited exhibits bullish momentum, traders should remain vigilant about the key resistance and support levels. Keeping an eye on volume and further price action will be crucial in determining the stock's next moves.