Seamec Limited (SEAMECLTD) Stock - Complete Technical Analysis - Sep 12, 2024

Seamec Limited Technical Analysis: Key Support & Resistance Levels, Market Trends & Patterns

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.

Technical Analysis for Seamec Limited (SEAMECLTD)

Seamec Limited is currently trading at 1,470, which is around 12% below its 52-week high of 1,669.95 and approximately 140% above its 52-week low of 611.1. The stock shows a mix of technical signals.

Support and Resistance Levels:

Support Levels: The key support levels are at 1,457.78 (Classic Pivot S1), 1,328.32 (Classic Pivot S2), and 1,092.77 (Classic Pivot S3).

Resistance Levels: The major resistance levels are at 1,693.33 (Classic Pivot R1), 1,799.42 (Classic Pivot R2), and 2,034.97 (Classic Pivot R3).

Technical Indicators:

MACD: The MACD is currently below zero, indicating bearish momentum.

RSI: The RSI is at 43.38, suggesting the stock is nearing oversold conditions.

ADX: The ADX is at 20.71, reflecting a weak trend strength.

Stochastic Oscillator: The Stochastic %K and Stochastic RSI are in the oversold zone, indicating a potential rebound.

Moving Averages: The stock is trading below its 10-day and 20-day EMAs, suggesting a short-term bearish trend. However, it is above its 50-day EMA, indicating a possible medium-term support.

Chart Patterns: The presence of a Doji and Spinning Top candlestick pattern suggests market indecision. This could be indicative of a potential reversal or a consolidation phase.

Additional Observations:

Average True Range (ATR): The ATR values have been fluctuating, indicating varying levels of volatility. This suggests that traders should be cautious about the price swings.

Ichimoku Base Line: The current price is below the Ichimoku Base Line, which could signify bearish sentiment.

Overall, the stock is in a consolidation phase with key support and resistance levels well-defined. Traders should monitor these levels closely for potential breakout or breakdown opportunities.