Skipper Limited (SKIPPER) Stock - Complete Technical Analysis - Oct 29, 2024

Skipper Limited Stock Analysis: Key Levels & Trading Insights

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. Skipper Limited's current price stands at 514, showing a decline of 16.95% from its recent 52-week high of 618.9 on October 14, 2024, yet it is up significantly, 147.31%, from its low of 207.84 on December 21, 2023. The stock's valuation, indicated by a P/E ratio of 52.5, suggests high market expectations. The ADX indicates a weak trend, with an RSI of approximately 51, showing a neutral stance in the market.

Recent trading activity demonstrates volatility and potential reversal patterns. On October 25, the stock witnessed a significant drop from 530.90 to 504.15, reflecting bearish sentiment. However, a small rebound was observed, with the stock closing at 523.60 on October 28. The latest session opened at 531.75 and reached a high of 544.95 but closed lower at 514, indicating resistance around 540 and support near 504.

Additionally, the stock is trading below key moving averages, which might suggest bearish momentum. The Awesome Oscillator indicates a potential for upward momentum if it crosses above zero. Traders should monitor for a breakout above the resistance level of 540 to shift sentiment bullish, while a decline below 504 could open the door for further downside.