Shalby Limited (SHALBY) Stock - Complete Technical Analysis - Nov 26, 2024

Shalby Limited Technical Analysis: Is the Stock Poised for Reversal Support & Resistance Levels E

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. Shalby Limited (SHALBY) is currently trading at 221.53, well below its 52-week high of 339.50, but slightly above its recent 52-week low. In terms of support, the immediate level is around 217.7, with additional support seen at 199.2. Resistance sits at 227, with a potential second level around 240. The stock is experiencing a moderate downtrend, with bearish momentum highlighted by a negative MACD and low RSI. However, it is important to note the recent price volatility, with ATR indicating a significant degree of short-term fluctuations. The Average Directional Index (ADX) suggests a strong trend, but with mixed signals from other indicators, suggesting traders should wait for a clear directional break before taking positions. Indicators like Stochastic RSI and momentum show potential for a reversal towards bullish conditions if the stock holds above support levels. Investors should closely monitor these levels for the best entry points, keeping an eye on the evolving trend and volatility.