Aegis Logistic, Technical Levels and Trade Zone

Hello Traders,

Chart Type - Heikin Ashi
Time Frame - Daily Swing Chart

The price has successfully tested its retracement level of 61.80% and the price holds these levels.

Swing High - 387.15 (August 2023)

Breakout Level - 347.95
First trade zone - 347.95 to 357.25
Second trade zone - 357.25 to 373.30

Breakdown Level - 338.65
Trade Zone - 338.65 to 308.60

Comment:

Daily Chart
The price has successfully broken down the level of 338.65 which is the Fib Retracement level of 61.80%.

Weekly Chart
The price shows the weakness in the momentum and the price makes a negative move.

Comment:

Aegis Logistics Daily Chart: The price is in a strong downtrend. We have Strong body Red HA candles. The next level to watch is 317.55 which is a retracement level of 38.20%

Comment:

Aegis Logistics Daily Chart: Today we have a green HA candle with a high of 337. Now the interesting part is this level is a strong resistance on the daily as well as on the weekly charts. So, the level of 337.65 will decide the direction.