Swan Energy Limited (SWANENERGY) Stock - Complete Technical Analysis - Sep 05, 2024

Swan Energy Limited Stock Analysis: Bearish 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.

Swan Energy Limited, trading at 647, presents a challenging scenario for traders with its current technical indicators. The stock is experiencing a downtrend as indicated by its position 17.35% below the 52-week high and 136.79% above the 52-week low. The Relative Strength Index (RSI) is below 40, suggesting that the stock is currently in the oversold zone. Similarly, the MACD line is well below its signal line, further indicating a bearish trend. The Stochastic %K and Stochastic RSI are also at extreme lows, reflecting oversold conditions.

Resistance levels are observed around the recent pivot points, with significant hurdles near the Classic Pivot and Fibonacci levels. The stock's trading below its Exponential and Simple Moving Averages indicates continued downward pressure. The Hull Moving Average and Volume Weighted Moving Average also suggest bearish momentum. Additionally, the Average Directional Index (ADX) shows weak directional movement, reinforcing the stock's current lack of momentum. The Commodity Channel Index (CCI) and Awesome Oscillator both indicate a bearish trend, further compounded by a declining Bull Bear Power and Ultimate Oscillator.

For support, the stock is approaching lower levels indicated by the Camarilla and Woodie pivots, with critical support near the Classic and Fibonacci S1 levels. The Average True Range (ATR) shows a decrease in volatility, suggesting smaller price fluctuations in recent periods. Overall, the technical indicators point towards a bearish sentiment, with potential support around 646, but caution is advised due to weak trend strength and continued downward pressure.