Syngene International Limited (SYNGENE) Stock - Complete Technical Analysis - Sep 05, 2024

Syngene International Technical Analysis: Bullish 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.

The technical analysis for Syngene International Limited (SYNGENE) reveals a strong bullish trend. Currently trading at 906.65, the stock is about 3.15% below its 52-week high and 49.21% above its 52-week low. The stock's momentum is robust, with the MACD showing a positive trend, and the RSI indicates overbought conditions, suggesting caution. The ADX is above 30, reflecting a strong trend, while the Awesome Oscillator confirms bullish momentum. The Stochastic RSI and Williams Percent Range also point to strong buying pressure.

On the moving averages front, SYNGENE is trading above most of its key moving averages, including the 10-day and 50-day EMAs, reinforcing its bullish stance. The Classic Pivot Point and Camarilla Pivot support levels are close, indicating potential support around 846.7, while resistance might be encountered near 900.05, as per the Classic Pivot R1. The presence of the Three White Soldiers pattern highlights continued bullish momentum.

The Average True Range (ATR) shows increased volatility, which traders should be aware of. The Hull Moving Average and Ichimoku Base Line align closely with the current price, suggesting strong support levels. Overall, SYNGENE's technical indicators are favorable for a bullish outlook, but the high RSI and Stochastic readings suggest monitoring for any signs of a potential reversal or pullback.