Suzlon Energy Limited (SUZLON) Stock - Complete Technical Analysis - Nov 19, 2024

Suzlon Energy Stock Analysis: Price Patterns, Support & Resistance Levels for November 2024

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. Suzlon Energy (SUZLON) is showing strong potential for a rebound, trading at 62.22, near its support zone. The stock is experiencing a technical pullback after reaching a 52-week high of 86.04, and has shown resilience from its 52-week low of 33.90. The technical indicators suggest caution, but with careful analysis, short-term opportunities might arise. The RSI at 42.68 signals neutrality, while the MACD is still in negative territory, suggesting that the stock could face more downward pressure before any significant upward movement.

Key support is located near 59.42 and 55.96, while resistance lies around 64.66 and 71.49. As volatility remains high with an ATR of 1.57, the stock may present trading opportunities within these levels. Watch for a breakout above 64.66 to confirm a bullish reversal. Traders could look for confirmation of upward movement through the EMA crossovers, particularly if the 10-day or 20-day EMAs move above the 50-day EMA.

Overall, traders should prepare for possible price swings, but the support levels could provide a good risk-to-reward ratio for those looking to enter. Long-term investors may wait for confirmation of a trend reversal or a stronger bullish signal before adding to positions.