Skipper Limited (SKIPPER) Stock - Complete Technical Analysis - Nov 14, 2024

Skipper Limited Stock Analysis: Support, Resistance & Trading Opportunities SKIPPER Technical Rev

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 (SKIPPER), currently priced at 531.15, is trading 14.18% below its 52-week high of 618.9, but significantly above the 52-week low of 207.84. In the short term, the stock is facing resistance around the 550-560 levels, with recent volatility signaling potential trading opportunities. On November 14, SKIPPER opened at 516.80 and saw a high of 544.25 before closing at 531.15, indicating strong intraday movements.

Looking at technical indicators, the stock is in a corrective phase after its 52-week high in October. The RSI is near neutral, suggesting indecision in the market. The MACD is still positive but shows signs of weakening, indicating that the bullish momentum may slow down unless the stock breaks key resistance points.

The ADX is below 20, confirming a weak trend. However, the stochastic oscillator and Williams Percent Range suggest oversold conditions, which could provide a potential reversal point. Immediate support can be found in the 516-525 range, with a possible upside target of 550-560 if the stock can break resistance.

Traders should monitor for a break of the 515 level, which would signal further downside potential. For those looking for short-term trades, waiting for confirmation of a rebound at support could be an ideal entry point. The stock's volatility and price action indicate that caution and timing will be key for successful trades.