SUMITOMO CHEMICALS: Possible 20% upside
⚡️Price Analysis:
1️⃣ Healthy buying volumes
2️⃣ Bullish price structure with clear HH-HL formation intact
3️⃣ Trading near crucial EMA support - potential reversal zone
4️⃣ Multiple demand zones providing strong confluence support
5️⃣ Strong bullish candle near the fibo support.
✨ Key Observations:
➡️ Strong Dz forming at EMA confluence zone
➡️ Trendline break could trigger fresh momentum
➡️ Volume confirms accumulation at lower levels
➡️ Bullish reversal candle formation at support
➡️ Similar setup to Care Ratings as shared in the earlier publication.
➡️ RRR favorable for longs at current levels
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 What's your view on Chemical sector? Share below! ✌️🔥 Happy Trading!✅🚀
1️⃣ Healthy buying volumes
2️⃣ Bullish price structure with clear HH-HL formation intact
3️⃣ Trading near crucial EMA support - potential reversal zone
4️⃣ Multiple demand zones providing strong confluence support
5️⃣ Strong bullish candle near the fibo support.
✨ Key Observations:
➡️ Strong Dz forming at EMA confluence zone
➡️ Trendline break could trigger fresh momentum
➡️ Volume confirms accumulation at lower levels
➡️ Bullish reversal candle formation at support
➡️ Similar setup to Care Ratings as shared in the earlier publication.
➡️ RRR favorable for longs at current levels
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 What's your view on Chemical sector? Share below! ✌️🔥 Happy Trading!✅🚀
Anubrata Ray ⚡
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