METROBRAND - An Important Case of Final Correction & ImpulseMetrobrand has been trading inside a broad downward-sloping channel for a long time, repeatedly getting rejected from the upper trendline. Each corrective structure appears as part of a complex W-X-Y-X-Z pattern, and currently, the price seems to be completing the final leg (Z). The earlier lows around 990 were tested twice, showing strong support, and now price is recovering from that zone. The recent rise indicates that sellers are losing strength and buyers are slowly stepping in again.
The ideal accumulation range lies between 1,020 and 986 (0.786 retracement), and as long as the stock holds above this zone, the downside risk remains limited. A minor dip or consolidation is still possible in the coming weeks before a stronger uptrend kicks in. Once the price stabilizes and confirms reversal with higher highs and higher lows, we may see momentum building toward the upper resistance.
If the stock sustains above 1,125 and later breaks out of the channel resistance, it has the potential to travel toward 1,245 initially. A successful breakout with volume can trigger a major upside move, extending toward 1,460 or even higher levels. Overall, the risk–reward now tilts in favor of long-term buyers, provided the stock respects the lower support zone near 986 .
Stay Tuned!
@Money_Dictators
