Sun TV Network Limited (SUNTV) Stock - Complete Technical Analysis - Sep 05, 2024

Sun TV Network Stock Analysis Bearish Pattern

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.

Sun TV Network Limited (SUNTV) is currently trading at 796.40, which is 13.53% below its 52-week high of 921.00 and 40.31% above its 52-week low of 567.60. The stock displays a Bearish Engulfing pattern, indicating potential downside pressure. The Average Directional Index (ADX) at 24.54 suggests a strong trend but lacks significant momentum. The Relative Strength Index (RSI) at 44.94 shows the stock is nearing the oversold territory, hinting at possible buying opportunities. The MACD is below the signal line, indicating bearish momentum. The Stochastic Oscillator is near 54.3, signaling that the stock may be in the middle of its current range, while the Stochastic RSI is higher, suggesting some bullish divergence. The Commodity Channel Index (CCI) is negative, further supporting the bearish sentiment.

Moving Averages present a mixed view: the short-term Exponential Moving Averages (EMA) are above the current price, with the 10-period EMA at 806.34 and the 20-period EMA at 812.66, suggesting immediate resistance. However, longer-term EMAs such as the 50-period at 801.34 and the 200-period at 707.66 are below the current price, indicating underlying bullishness in the longer term.

Pivot points suggest that immediate support is around 751.93 and resistance around 836.47. The Average True Range (ATR) indicates moderate volatility. Given these factors, traders should be cautious of potential price swings and watch for further confirmation of support or resistance levels before making trading decisions.