Markets rarely explode without building tension — this wedge might be that tension.
JK cement's long-term support zone broadly intact, but short/medium-term trend has seen pressure. Recent weeks show lower highs, forming a downward sloping upper trendline. But there's a wider, long-term rising trendline at the bottom — forming a potential large contracting triangle / wedge-like structure on daily chart (as I marked).
So, we are in a coil / compression phase. Price consolidating inside a wedge/triangle after prior swing down, while long-term support holds. That means either breakout or breakdown — but with risk-reward skewed toward bounce if support and structure hold.
If price breaks above upper trendline with volume, upside could target previous swing highs. But if it breaks below support — risk of deeper correction exists.
Save this chart. Wedges crack. This one might too.
Best regards,
Alpha Trading Station
JK cement's long-term support zone broadly intact, but short/medium-term trend has seen pressure. Recent weeks show lower highs, forming a downward sloping upper trendline. But there's a wider, long-term rising trendline at the bottom — forming a potential large contracting triangle / wedge-like structure on daily chart (as I marked).
So, we are in a coil / compression phase. Price consolidating inside a wedge/triangle after prior swing down, while long-term support holds. That means either breakout or breakdown — but with risk-reward skewed toward bounce if support and structure hold.
If price breaks above upper trendline with volume, upside could target previous swing highs. But if it breaks below support — risk of deeper correction exists.
Save this chart. Wedges crack. This one might too.
Best regards,
Alpha Trading Station
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.