Suven Pharmaceuticals Limited (SUVENPHAR) Stock - Complete Technical Analysis - Sep 06, 2024

Suven Pharmaceuticals Stock Analysis: Key Support

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. Suven Pharmaceuticals Limited (SUVENPHAR) is currently trading at 1200.15, which is approximately 3.64% below its 52-week high of 1157.95 and a remarkable 137.56% above its 52-week low of 505.20. The stock shows a bullish trend with several key indicators pointing towards strength. The Average Directional Index (ADX) is high, signaling a strong trend, while the MACD indicates a strong bullish momentum. The Relative Strength Index (RSI) is in overbought territory, suggesting that the stock may be due for a short-term pullback. The Stochastic Oscillator is also in overbought territory, reinforcing this view. On the moving average front, the price is well above the 50-day and 200-day Exponential Moving Averages (EMA), which are considered positive signs. Support levels are identified around the classic pivot S1 at 954.53 and the Fibonacci pivot S1 at 958.65, while resistance levels can be observed around the classic pivot R1 at 1153.78 and the Fibonacci pivot R1 at 1110.88. Overall, the stock shows strong bullish signals, but caution may be warranted due to the overbought indicators suggesting potential for a correction in the near term.