Suzlon Energy Limited (SUZLON) Stock - Complete Technical Analysis - Dec 13, 2024

Suzlon Energy Stock Analysis: Is the Trend Reversal Imminent Key Support and Resistance Levels Exp

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 Suzlon Energy Limited (SUZLON) stock, which is currently priced at 66.20, we see that the stock is down 23% from its 52-week high of 86.04 but up 95% from its 52-week low of 33.90. This shows a strong recovery, but the recent price action raises concerns.

In the last few days, the stock has been trading within a narrow range, with a notable bearish reversal pattern the Shooting Starforming on December 13, 2024. This suggests that there may be a weakening in the upward momentum, indicating a possible pullback. With the stock failing to push past 67.68, resistance remains at this level, while support can be found around the 64.86 mark. Below this, the 62.09 level stands as the next key support.

Looking at the technical indicators, the RSI stands at a neutral 50.55, which doesnt signal an immediate buy or sell signal. The MACD is slightly negative, reinforcing the weak momentum in the market. The ADX is at 15.35, signaling a lack of strong trend strength, suggesting the stock is in a consolidation phase. The Awesome Oscillator shows slight bullishness, but the lack of clear trend direction means traders should be cautious.

If Suzlon breaks above 67.68, it could rally towards the next resistance at 70. On the flip side, if it falls below the support level at 64.86, expect further downside potential, with 62.09 as a critical level to monitor.

In summary, Suzlon Energy is showing mixed signals in the short term, and traders should watch for breakouts above 67.68 for upward movement or a drop below 64.86 for further decline.