Stock has rallied good in the recent month and started making zigzag zone and at the same time struggled to make a higher high indicating signs of weakness , the rising wedge and a rounding bottom within it supplementing the weakness bias . Momentum indicators signalling diversion and not much market participation ( possible signs of distribution during the zig zag move )
Time cycle is fresh and a breach down here could trigger inversion , keep a watch on this counter for short term weakness at the break of recent support zone (highlighted in amber)
Note : Slight thought, it could loiter around for a while or possibly make weak upmove a bit before breaching the support zone
Time cycle is fresh and a breach down here could trigger inversion , keep a watch on this counter for short term weakness at the break of recent support zone (highlighted in amber)
Note : Slight thought, it could loiter around for a while or possibly make weak upmove a bit before breaching the support zone
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Target overshot ~
