Suzlon Energy shares rose to a new 52-week high on Thursday, despite overall market volatility. The most recent leg of the rally has pushed the renewable energy stock into the overbought zone, according to its relative strength indicator (RSI). The RSI of the multibagger stock is 69.8. An RSI of 70 or above suggests the stock is trading in the overbought zone.
In comparison to the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages, Suzlon Energy stock is now trading higher. This suggests that there are more long-term and short-term buyers than sellers of the stock.
Suzlon Energy shares jumped for the second straight day today, up 5% (reaching its upper circuit) to Rs 73.04 on the BSE, up from the previous closing of Rs 69.57. It has risen 287% from its 52-week low in the previous year. At its 14-year high, the multibagger renewable energy stock is now trading. On August 9, 3023, Suzlon Energy’s shares dropped to a 52-week low of Rs 18.84.