After a prolonged corrective phase, Crompton has reached a major demand zone on the weekly timeframe, where price action is showing early signs of accumulation.
The latest candle has formed a pronounced lower shadow, indicating absorption of selling pressure and renewed buying interest near structural support.
A sustained close above immediate resistance, supported by increasing volume, would confirm a bullish reversal structure and potentially mark the beginning of a new primary uptrend.
Traders should watch for follow-through momentum and volume confirmation in the coming sessions — a breakout here could transition the stock from accumulation to markup phase.
The latest candle has formed a pronounced lower shadow, indicating absorption of selling pressure and renewed buying interest near structural support.
A sustained close above immediate resistance, supported by increasing volume, would confirm a bullish reversal structure and potentially mark the beginning of a new primary uptrend.
Traders should watch for follow-through momentum and volume confirmation in the coming sessions — a breakout here could transition the stock from accumulation to markup phase.
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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.