Trend (Long-Term Structure):
Trent remains in a long-term bullish structure despite the recent correction. The stock had a massive rally and is now going through a healthy retracement phase rather than a complete trend reversal. Long-term higher highs and higher lows are still intact.
Price Structure + Fibonacci:
Price has corrected from the high around 8356 and has reached an important Fibonacci support area.
• 0.5 level: 4656
• 0.618 level: 3784
The stock recently tested the 0.618 zone, and buyers have started showing interest from this region. This area is generally considered a strong support zone in trending stocks.
Volume Analysis:
Recent candles near the support area are showing increased activity. The latest bounce from lower levels accompanied by volume suggests that buying participation is returning. Sustained volume in the coming months would strengthen the recovery case.
RSI Analysis:
RSI is around 49, recovering from near the 40 support zone. Momentum had weakened significantly during the correction, but RSI is now showing an upward turn. A move above 60 would indicate stronger bullish momentum returning.
Current View:
The stock currently looks like it is attempting to build a base near an important Fibonacci support zone. This appears more like a consolidation and accumulation phase after a sharp correction rather than continued aggressive weakness.
Trading perspective:
• Immediate resistance: 4650–4700 (0.5 Fibonacci zone)
• Higher resistance: 5500–6000
• Immediate support: 3780–3900
• Strong support: 3000–3200
• Bullish confirmation: Monthly close above 4650–4700 with strong volume
• Bearish confirmation: Monthly close below 3780
Current View:
This currently looks like a long-term positional setup where the stock is trying to stabilize after a major correction. As long as the 3780–3900 zone holds, the probability favors gradual upside recovery over the coming months.
Trent remains in a long-term bullish structure despite the recent correction. The stock had a massive rally and is now going through a healthy retracement phase rather than a complete trend reversal. Long-term higher highs and higher lows are still intact.
Price Structure + Fibonacci:
Price has corrected from the high around 8356 and has reached an important Fibonacci support area.
• 0.5 level: 4656
• 0.618 level: 3784
The stock recently tested the 0.618 zone, and buyers have started showing interest from this region. This area is generally considered a strong support zone in trending stocks.
Volume Analysis:
Recent candles near the support area are showing increased activity. The latest bounce from lower levels accompanied by volume suggests that buying participation is returning. Sustained volume in the coming months would strengthen the recovery case.
RSI Analysis:
RSI is around 49, recovering from near the 40 support zone. Momentum had weakened significantly during the correction, but RSI is now showing an upward turn. A move above 60 would indicate stronger bullish momentum returning.
Current View:
The stock currently looks like it is attempting to build a base near an important Fibonacci support zone. This appears more like a consolidation and accumulation phase after a sharp correction rather than continued aggressive weakness.
Trading perspective:
• Immediate resistance: 4650–4700 (0.5 Fibonacci zone)
• Higher resistance: 5500–6000
• Immediate support: 3780–3900
• Strong support: 3000–3200
• Bullish confirmation: Monthly close above 4650–4700 with strong volume
• Bearish confirmation: Monthly close below 3780
Current View:
This currently looks like a long-term positional setup where the stock is trying to stabilize after a major correction. As long as the 3780–3900 zone holds, the probability favors gradual upside recovery over the coming months.
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.
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.