Sandur Manganese & Iron Ores Limited (SANDUMA) Stock - Complete Technical Analysis - Nov 22, 2024

Technical Analysis of Sandur Manganese & Iron Ores (SANDUMA) Stock Support & Resistance Levels

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. Analyzing Sandur Manganese & Iron Ores Limited (SANDUMA) stock, we see that it is trading at 425.35, which is quite a bit lower than its 52-week high of 634.8, but still significantly higher than its low of 252.02. Over the past five days, the stock has shown some volatile movement, with a few price drops and surges, indicating a mixed sentiment in the market. The latest session shows the stock closing at 425.35 after hitting a high of 428.80, signaling some intraday volatility.

The stocks technical indicators tell a story of a bearish short-term outlook. The RSI stands at 41.57, which suggests that the stock is neither in an overbought nor oversold condition. However, the MACD is negative, confirming the bearish momentum. Additionally, the Commodity Channel Index (CCI) and Awesome Oscillator both show a bearish inclination.

Looking at the stock's key price levels, we find that it is currently facing resistance at 440-450, marked by the exponential moving averages (EMA) and the Ichimoku Base Line. The stock has struggled to push above these levels, indicating that this range may continue to act as a significant resistance zone.

For support, the stock has several critical levels to watch. The first strong support zone lies between 421-425, where the stock has found support in recent days. If it breaks below this, the next support level appears to be around 395, based on pivot points and moving averages. Traders should closely monitor these levels for potential entry points if the stock starts to stabilize and show signs of a reversal.

In summary, the technical indicators suggest a range-bound market for Sandur Manganese & Iron Ores in the short term, with resistance at 440-450 and support at 421-425. Breaks in either direction could signal a shift in trend. Watch these key levels for trade setups.