Supreme Industries Limited (SUPREMEIND) Stock - Complete Technical Analysis - Nov 28, 2024

Supreme Industries (SUPREMEIND) Stock Analysis - Price Trends, Support, Resistance & Volatility Ex

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. Supreme Industries Limited (SUPREMEIND) is in a range-bound phase, trading at 4,520, significantly lower than its 52-week high but comfortably above its low. The technical indicators reveal that the stock is currently under bearish pressure with a negative MACD and a relatively low RSI, signaling potential weakness in the near term. The stock's position beneath its major EMAs suggests a bearish outlook, but there is potential for upward movement if the price breaks through the resistance zone of 4,590-4,620.

Recent price action shows that the stock is bouncing between 4,500-4,600, indicating short-term consolidation. Traders should monitor these levels closely for any breakout. If the price moves above the resistance, the next target could be the 50 EMA at 4,803. On the downside, support is located around 4,500, and failure to hold this level may lead to a further decline toward 4,300. With ATR values indicating increased volatility, it's essential to stay cautious and watch for confirmation of either a bullish breakout or a bearish breakdown for better trade positioning.