Swelect Energy Systems Limited (SWELECTES) Stock - Complete Technical Analysis - Dec 09, 2024

"Swelect Energy Systems (SWELECTES) Technical Analysis Price Support, Resistance & Key Indicators

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. Swelect Energy Systems Limited (SWELECTES) Detailed Technical Analysis

Swelect Energy Systems Limited (SWELECTES) is exhibiting some volatility in the current trading range. Let's break down the key technical levels and indicators for a better understanding.

Price Trend and Key Levels:

Support: Currently, the stock is facing support at 1,064, with the next potential support at 1,050, and a further level at 1,035. These levels could be crucial for any potential price reversal.

Resistance: The stock has been struggling with resistance near the 1,123 level, and if the price surpasses that level, it could target 1,149 and higher levels based on pivot points.

Price Action: The most recent Spinning Top candle on Dec-06 signals indecision. The price has been fluctuating between 1,100 and 1,120 in the last few sessions, suggesting possible price consolidation. The recent drop from 1,113.55 to 1,081.80 shows some negative price action, and traders should keep an eye on further downward movements.

Moving Averages:

Short-Term EMAs (10 & 20-day) are slightly below the current price, signaling potential short-term bullishness, while the long-term EMAs (50, 100, and 200-day) suggest a bearish trend.

SMAs are also mixed, with short-term averages above the current price, while long-term averages provide resistance.

Key Technical Indicators:

RSI is sitting at 48.84, suggesting the stock is in a neutral zone. No strong bullish or bearish momentum is visible right now.

MACD is negative, indicating potential bearish momentum ahead. Be cautious as the stock might face a pullback.

Stochastic RSI and Momentum indicators are showing minor bullish signals, but they are not strong enough to suggest a sustained uptrend.

Volatility and Risk: The ATR is currently high, indicating considerable volatility. This could lead to unpredictable price movements in the near term, making SWELECTES a higher-risk stock for short-term traders.

Pivot Point Analysis:

Classic Pivot Points suggest a neutral stance with immediate support at 1,064 and resistance at 1,123. If the price breaks above these levels, expect further movement toward higher pivots.

Camarilla and Fibonacci Pivots suggest that SWELECTES is currently near its support zone, indicating that a reversal could be on the cards if the stock stays above 1,064.

Conclusion: The stock is showing mixed signals. With the price trading below its pivot points and oscillators like the MACD indicating bearish pressure, SWELECTES may face short-term challenges. Investors should watch for confirmation of a reversal or further pullbacks before making any decisions.