Styrenix Performance Materials Limited (STYRENIX) Stock - Complete Technical Analysis - Aug 30, 2024

Styrenix Stock Analysis: Key Levels

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.

Today, we're diving into the technical analysis of Styrenix Performance Materials Limited, ticker STYRENIX. The stock is currently priced at 2,643, down about 8.23% from its 52-week high of 2,880. It's significantly up by 159.11% from its 52-week low of 1,020.

Looking at key support and resistance levels, the Classic Pivot Point stands at 2,487, with immediate resistance at 2,863 and further resistance at 3,107. Support levels are identified at 2,243, with additional support at 1,867. The Camarilla Pivot Points suggest resistance at 2,676 and support at 2,562. The Fibonacci levels show resistance at 2,724 and support at 2,250. For Woodies Pivot Points, resistance is at 2,931 and support at 2,311.

Examining moving averages, the stock is trading above the 10-day EMA of 2,682.84 and the 20-day EMA of 2,641.86, indicating a bullish short-term trend. The 50-day EMA is at 2,465.25, and the longer-term 200-day EMA is at 1,888.89, showing the stock's uptrend over the long term.

Indicators are mixed: the MACD suggests a bullish momentum with a level of 64.63, while the RSI is neutral at 53.1, indicating neither overbought nor oversold conditions. The Stochastic %K is at 52.06, and the Stochastic RSI Fast is at 38.31, reflecting moderate bullish momentum. The Awesome Oscillator shows a positive reading of 146.47, further supporting bullish sentiment.

The Average Directional Index (ADX) is at 19.4, indicating a weak trend strength, while the ATR, which measures volatility, has been fluctuating but shows recent increases, suggesting increased volatility.

In summary, STYRENIX is trading above its key moving averages, reflecting an overall uptrend. Key resistance levels to watch are around 2,863 and 3,107, while support levels are around 2,243 and 1,867. The indicators provide mixed signals, with bullish momentum but weak trend strength.