CHENNAI PETROLEUM CORP LTD
A stock that was strongly bullish for the past 1.5 years started declining from August 2024. In the weekly time frame, drawing a swing-based Fibonacci retracement shows that the current price has reached the **0.618 level**.
This could be a good opportunity for either short-term or long-term investment, as the **0.618 retracement level** is considered a strong support zone where prices often bounce back. However, it's essential to confirm with additional technical indicators or market conditions before making a decision.
This could be a good opportunity for either short-term or long-term investment, as the **0.618 retracement level** is considered a strong support zone where prices often bounce back. However, it's essential to confirm with additional technical indicators or market conditions before making a decision.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.