Area where the stock is trading right now is a supply zone in daily as well as weekly
But as we can see it is trying to hold the area with VCP pattern not making any new highs or lows
Current zone important between 376 - 384
Breaking of current trend line will decide the direction of the stock
If it breaks upside it will struggle at the next resistance near 400
If it breaks downside, stock can travel downside up to 360 / 350 areas
Chances of going downside are much higher than upside, but still with markets anything is possible
DYOR before entering
But as we can see it is trying to hold the area with VCP pattern not making any new highs or lows
Current zone important between 376 - 384
Breaking of current trend line will decide the direction of the stock
If it breaks upside it will struggle at the next resistance near 400
If it breaks downside, stock can travel downside up to 360 / 350 areas
Chances of going downside are much higher than upside, but still with markets anything is possible
DYOR before entering
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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.
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.