ALBERTDAVD - Weekly Chart Analysis, CMP-1097After forming a probable volume contraction and 2 bases formed over 4 years the stocks now showing a tennis ball pattern forming HH-HL.
It also broke the confluence of 1. The down trendline & 2. The Supply zone (617-662) with good volumes. We waited for a 1st base to form just for confirmation which was 14 Weeks and 17% range.
The stock is sailing above all key moving averages.
Now 860-880 shall act as a support and a weekly close with follow up below these levels if seen make our view invalid.
Over the long term 1257 - 1733 levels can be tested if it continues in an up trend.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
