Selan Exploration Technology Limited (SELAN) Stock - Complete Technical Analysis - Nov 04, 2024

Analyzing Selan Exploration Technology: A Comprehensive Technical Review

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. Selan Exploration Technology Limited is currently priced at 946.35, indicating robust recovery potential as it sits 12.23% below its 52-week high of 1078.25, achieved in August 2024, and 134.51% above its 52-week low of 403.55, noted in March 2024. The stock shows positive signs, with a solid P/E ratio of 24.9, reflecting strong investor interest.

Analyzing technical indicators, the MACD indicates a bullish trend, while the RSI suggests the stock is nearing overbought territory, signaling a possible short-term pullback. The ADX, reading above 20, points to a strengthening trend. Volume and price action indicate recent volatility, with significant price movements over the last few dayshighlighting the stock's capacity for both rapid surges and dips.

Support is seen at recent lows around 884.90, while resistance is located at 963.87 and the key psychological level of 1000. As traders engage with the stock, they should monitor these levels closely. Overall, Selan's current price action suggests a strong uptrend, but caution is advised given the potential for corrections in the near term.